Cantor Fitzgerald (HK) Capital Markets goes live with Fidessa’s Asian trading platform
London, 18th March 2008 - Fidessa group plc (LSE: FDSA), provider of multi-asset trading systems, market data and global connectivity solutions, today announced that Cantor Fitzgerald (HK) Capital Markets Ltd has now completed three full months of reliable uninterrupted service using the newly implemented Fidessa Asian trading platform for its Asia-Pacific equities business, based in Hong Kong.
Fidessa's Asian trading platform provides Cantor Fitzgerald with regional order management and direct market exchange connectivity, automated confirmations, back office feed and regional risk management. In conjunction with Fidessa's global FIX network, it will offer unrivalled flexibility to access more buy side institutions and remote brokers supporting DMA, CARE and Algorithmic flow whilst delivering unprecedented reliability and stability in order to handle the company's increased trading volumes and growth.
In selecting the Fidessa platform, users at Cantor Fitzgerald presently have direct connectivity to six exchanges in the Asia Pacific region for their expanding client base and the solution is fully integrated with their Fidessa systems in Europe.
Implementation was completed a full month before Cantor Fitzgerald (HK) decommissioned their existing legacy trading platform. A planned second phase implementation with Fidessa will provide Cantor Fitzgerald with member trading access to the Singapore Exchange and will enable trade with additional markets including Taiwan and Korea.
Cantor Fitzgerald has grown to become one of the largest and most recognized players in the global equities arena and is particularly strong in equity and equity derivatives in Asia. Ranked consistently by Futures Magazine as one of the top fifty U.S. securities brokers for execution and cross-ratios for the past five years running, the company serves a client base of more than 5,000 major institutional investors and corporations worldwide.
Jason Boyer, Managing Director of Cantor Fitzgerald (HK) Capital Markets Ltd commented "One of the deciding factors in choosing to replace our legacy platform with Fidessa was its enhanced performance and stability along with its broader FIX connectivity coverage. The new platform will give our traders the additional sophisticated trading tools, increased range of FIX connectivity, and regional and global connectivity needed to develop innovative solutions that address many of today's complex trading issues."
Nevin Price, Regional Manager of Fidessa in Asia adds: "We are excited about the implementation at Cantor Fitzgerald. In a market environment of increasing volumes and volatility, this latest implementation of Fidessa's hosted Asian trading platform demonstrates our ability to not only deliver robust, scalable, and functionally rich solutions for the Asian markets, but also to provide the stability that competitive brokerages absolutely demand."
The Fidessa product suite provides integrated multi-asset trading, market data and connectivity solutions to around 22,000 users across 520 clients around the world and is used by over 85 per cent of global, tier-one equity brokers. Fidessa's connectivity network serves around 1,500 buy-side institutions and 255 brokers with connectivity to 92 exchanges globally.
About Cantor Fitzgerald
Cantor Fitzgerald is a leading global financial services firm. The Cantor Fitzgerald franchise includes institutional debt and equity sales and trading, investment banking, private equity, and asset management, as well as other businesses and ventures. For over 60 years, Cantor Fitzgerald, a proven and resilient leader, has been committed to delivering a unique brand of unparalleled product expertise, innovative technology and customer service to its clients around the world.
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