Fidessa LatentZero Expands in Hong Kong
Hong Kong - 31 March 2008 Fidessa group plc (LSE:FDSA), the world's leading provider of multi-asset trading, market data and connectivity solutions to the buy-side and sell-side globally, today announced the expansion of its operations in Asia in support of its Fidessa LatentZero buy-side product suite in the region. The expanded operations will include the provision of dedicated implementation and support teams staffed with local recruits as well as by internal transfers from its London head office.
The Fidessa LatentZero buy-side product suite provides front-office investment management software for portfolio analysis, modelling, order generation, order and execution management (OEMS) and trading, all with integrated pre and post trade compliance. The system offers full cross asset class functionality - covering equities, fixed income, money markets, FX, and listed and OTC derivatives.
Richard Jones, CEO of Fidessa LatentZero, comments: "Our long-term strategy has always been to expand in the Asian markets from a base in Hong Kong. One of the key benefits of our merger with the Fidessa group last year is that we have been able to leverage their business infrastructure and experience to accelerate our plans for geographic expansion." Fidessa has been active in the Asian markets from its base in Hong Kong for around ten years, employs over 50 staff and has 70 clients across the region. "Together we possess powerful, in-depth knowledge of the Asian markets and I am extremely confident about the business opportunities for us there" adds Jones.
Fidessa LatentZero is also familiar with the local markets and requirements, as it counts a number of leading global asset management companies with operations in Hong Kong as clients. The company now plans to use all this local experience and knowledge to help enter the domestic marketplace and fuel growth throughout the region.
Mark Vink, head of business development for Fidessa LatentZero in Asia, who is transferring from their London office, adds: "I am extremely excited about the opportunity to replicate the success we have experienced in Europe and North America across Asia. The Asian markets are seeing a period of immense growth in terms of pensions and other investments and we are hoping to capitalise on that."
The Hong Kong move follows Fidessa LatentZero's recent expansion in Japan, where sales and implementation teams have been recruited and a local language helpdesk introduced. Alongside growth in the Far East, the company also extended its presence in continental Europe in 2007.
Fidessa LatentZero is sponsoring the Credit Suisse Buy-side Traders forum in Hong Kong on March 31st where its front-office product suite will be on show.
About Fidessa group
Fidessa group is a world-leading supplier of multi-asset trading, portfolio analysis, decision support, investment compliance, market data and global connectivity solutions for both the buy-side and sell-side globally. Available as a simple workstation or as an integrated application suite, the Fidessa and Fidessa LatentZero product suites are built on the clear vision of providing the richest functionality, coverage and distribution to the financial markets community.
The Fidessa suite is used by 85% of tier-one, global equity brokers providing sophisticated trading, market data, order management and execution capabilities to all tiers of the sell-side.
The Fidessa LatentZero suite is used by the world's largest asset management firms through to smaller specialist managers and hedge funds, and provides comprehensive portfolio analysis, real-time P&L, what-if analysis, investment compliance, order and execution management, and post trade processing tools, across all asset classes, to all tiers of the buy-side.
Fidessa's global network carries over 95 million messages a month covering DMA, Care and Algorithmic orders, Indications of Interest and FIX Allocations between around 1,500 buy-sides and 255 brokers across 92 exchanges worldwide.
Head-quartered in London and with offices in New York, Boston, Tokyo, Hong Kong, Paris, Toronto and San Francisco, Fidessa group serves around 22,000 users across 520 clients globally. Fidessa group was founded in 1981, has revenues of $270m, employs over 1,100 people and has been fully listed (LSE:FDSA) since 1997.
The Americas - Lisa O'Reilly
+1 212 269 9000
Rest of World - Melanie Smith
+44 (0) 20 7462 4232
SPARX Communications (PR Agency) - Alastair Turner
+44 (0) 20 7487 8443