Daiwa Securities taps Fidessa, Fujitsu for Asian expansion
Japanese broker Daiwa Securities has signed separate deals with technology vendors Fidessa and Fujitsu to support institutional and retail trading flows in Korea and Japan.
Daiwa will use a Fidessa-supplied platform for trading equities in Korea. The system will provide Daiwa with order
management and routing, consolidated position management and efficiencies of
scale as it manages its regional order workflows. It is anticipated that the
deal will yield further collaboration between the two firms in Hong Kong,
Singapore and Taiwan.
Special local functionality for Korea includes
basket/program trading, order management, integration with the Korean Exchange
through Koscom and conformance with the Korean messaging standard, KFIX.
“We have an extremely strong equity trading business
in Korea and therefore needed a system robust and scalable enough to support
it,” said John Zendano, managing director, information technology, Daiwa
Asia-Oceania. “Like elsewhere, regulators are driving change in the Korean
trading and investment markets. Experience tells us this could significantly
affect our operating environment and we need to be ready to adapt to this.”
“We understand the importance of localising our global
solutions and infrastructure to cater for regional regulatory and market
requirements,” added David Jenkins, head of business development at Fidessa.
“This ensures firms like Daiwa are able to trade different markets from a
consolidated platform as efficiently as possible. While international firms
require a global approach to the front office for international client
relationships and trading memberships, every market has unique requirements.”
Daiwa Securities has also partnered with Japanese
technology firm Fujitsu to upgrade the infrastructure platform for Daiwa’s
online trading system for retail investors. The new Japanese system is built
using Linex open source software, and is designed to be faster and more
reliable than the firm’s previous platform. Daiwa began a phased migration to
the new system in October last year and it has been fully live since April.