Fidessa LatentZero Expands In Japan
Tokyo, London, 22nd October 2007 - Fidessa group plc (LSE: FDSA), the world leading supplier of trading and connectivity solutions to the global broking and investment management communities, today announced the expansion of its operations in Japan in support of its Fidessa LatentZero buy-side product suite in the region. The expanded operations will include the provision of a local language helpdesk for the Fidessa LatentZero products along with dedicated sales and implementation resource.
The Fidessa LatentZero buy-side product suite provides investment management front office software for portfolio analysis, modelling, order generation, order and execution management (OEMS) and trading, all with integrated pre and post trade compliance. The system is full asset class - covering equities, fixed income, money markets, FX, and listed and OTC derivatives.
This expansion comes as a direct result of increasing demand from the buy-side community in Japan for the Fidessa LatentZero solution, and follows the acquisition earlier this year of LatentZero by Fidessa. Previously, Fidessa LatentZero clients in the region were supported remotely from the company's European and US based centres.
Richard Jones, CEO of Fidessa LatentZero, comments: "The growth of the Fidessa LatentZero blue-chip client base in Japan demonstrates our product's suitability for this market. We believe that there is still a significant opportunity for us to grow our client base and the launch of local sales, support and implementation services strengthens our buy-side product offerings further."
Fidessa has had a presence in the Japanese market now for over 7 years and counts 28 of the leading financial institutions there as clients. With 70 staff based in its Tokyo office, the majority being local Japanese employees, Fidessa has a detailed knowledge of the Japanese markets and has built a strong reputation for product delivery and support through bilingual helpdesk and implementation teams. These teams are now being expanded providing further support for the Fidessa LatentZero product suite.
Ian Chilton, Chief Executive for Fidessa group in Japan, adds: "We continue to expand our products and services to meet the demands that we are seeing from the marketplace. With the enforcement of the Financial Information and Exchange Law in Japan, which became effective at the end of last month, our knowledge and understanding of the Japanese financial markets along with our proven capabilities for trading and connectivity solutions puts us in a very strong position here."
Fidessa group provides multi-asset trading, market data and global connectivity solutions to over 16,000 users at over 500 clients globally.
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.
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