Fidessa steps into China
Smooth transition for clients on China Connect
Hong Kong, 26th November 2014 – Fidessa group plc (LSE: FDSA) has seen a number of its key broker clients transition smoothly to the new Shanghai-Hong Kong Stock Connect link (China Connect) and make active use of it during its first week of operation.
Just seven months after the China Connect program was initially announced, nine clients - including China International Capital Corporation Hong Kong Securities Limited, CIMB Securities Limited, Guotai Junan Securities (Hong Kong) Limited, ICBC International Securities Limited and Standard Chartered Securities (Hong Kong) Limited - have successfully integrated this channel into their business with Fidessa. This integration followed a period of intensive development and testing to meet the tight deadlines that the program demanded.
"Fidessa made the decision to invest in the technology needed to support China Connect from day one", commented Phill Jeffrey, Regional Sales Director for Fidessa in Asia Pacific. "And we've been working in partnership with our clients since then to develop the tools needed to successfully trade the Shanghai A-Share market."
The China Connect program, which went live on Monday 17th November, opens up access to mainland China by allowing offshore investors to trade Shanghai listed shares via the Hong Kong market. It also allows mainland China-based investors to trade in Hong Kong listed shares via the Shanghai market too.
"So far most of the order flow we have seen has been mainly heading north", adds Jeffrey. "Whilst it is difficult to predict how this new channel will be used and how it might grow, the view is that this has the potential to be transformational. Consequently, we are pleased that our clients have successfully on-boarded this program, seamlessly and from the start."PDF (0.06 MB)