Haitong Securities and Fidessa open up Chinese markets

Hong Kong, 27th June 2011 – Fidessa group plc (LSE: FDSA), provider of high-performance trading, investment management and information solutions for the world’s financial community, has today announced that Haitong Securities, one of China’s largest brokerage firms, has joined its global connectivity network to open up access to China's markets. As a result, the 2,400 buy-sides and 600 brokers on the Fidessa network will be able to route orders via Haitong to the Shanghai and Shenzhen stock exchanges.

Since 2008, Haitong Securities has provided access to the Shanghai Stock Exchange via its subsidiary, Shanghai Stock Communication Company (STOCOM), enabling a number of institutional clients around the world to access both the Shanghai and Shenzhen stock exchanges. Fidessa has now passed conformance testing with STOCOM, opening the way for inbound trading via Haitong of A-shares and B-shares in these markets. A shares are listed in Renminbi and available to domestic and Qualified Foreign Institutional Investors – QFII – whilst B shares are listed in US Dollars for international firms.

Mr. Hiroki Mayizato, general manager of the International Business Department, Haitong Securities said: “We were impressed by the strength and the breadth of the Fidessa network and the company’s commitment to establishing the required connection to STOCOM. By joining the network we are able to offer access to this community and provide members with the local expertise that will enhance the outcome of their strategies for the Chinese market. At the same time we are able to extend our own international business.”

Jean-Pierre Baron, managing director at Fidessa in Asia, said: "As international order flow into China continues to grow, and transits for a large part via Hong Kong, we have seen increased demand to build a pipe between our Hong Kong hub and China. By connecting through STOCOM to the Haitong execution services, we have established a bridge that will act as a powerful accelerator for reaching the mainland markets. We are delighted that Haitong have agreed to on-board our network and partner with us as a new destination".

The Fidessa trading network covers more than 150 markets across EMEA, Asia Pacific and the Americas. It is one of the world’s most wide-reaching and powerful trading networks, and allows members to extend their trading business by attracting international flow in a secure, reliable and cost effective manner. The network has more than 3,000 members from both buy-side and sell-side, and carries executed order flow worth more than $800 billion every month.

About Haitong Securities Company Limited

Haitong Securities Co., Ltd. (“Haitong Securities” or “Haitong”) was founded in 1988 as one of the earliest securities companies in mainland China. As of the end of 3Q2010, Haitong had total assets of RMB115,413bn, and net assets of RMB45.61bn, with 6 subsidiaries, 10 branch companies, and 188 securities offices distributed in 118 cities across China and total customers up to 3 million.

As of the end of November 2010, Haitong’s transaction turnover of stocks and funds ranked the 5th in China, with a market share of 4.06%; its margin financing balance and securities lending balance respectively accounted for 16.47% and 12.56% of the markets. Haitong has been providing financing service for 239 enterprises as the lead underwriter and raised proceeds of RMB258.685bn in total. It had a market share of 7.32% in China Financial Futures Exchange, ranking among the top3. Haitong has been selected as their broker in China by more than ten QFII institutions. The company initiated the establishment of Fortis-Haitong Investment Management Co., Ltd. , Haitong-Fortis Private Equity Fund Management Co., Haitong Capital Investment Co., Ltd., Haitong-Jihe Equity Investment Fund Management Co. Ltd. and Haitong (HK) Financial Holdings Limited . It also obtained controlling shareholding of Haitong Futures Co., Ltd, made acquisition of Taifook Securities and changed the name into Haitong International Securities, striving to set up a financial holding group with international presence.

PDF (0.05 MB)