Daiwa has gone live on the Fidessa trading platform in Korea. The solution will be used by Daiwa’s Korean equity trading business in support of its domestic and international order flow, and "is part of a broader initiative that will see Fidessa provide Daiwa with a single trading platform across its Asian operations including Hong Kong, Singapore and Taiwan,” said a statement from Fidessa.
“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.
"Fidessa has proven its ability to support us through periods of sustained change and complexity in other parts of the globe and therefore, partnering with them in Korea, and indeed across the rest of Asia was, for us, the only option.”
Daiwa is now trading the Korean markets through Fidessa’s localised trading platform. Specific local functionality includes basket/program trading, order management, and integration with the Korean Stock Exchange through Koscom, and conformance with the Korean messaging protocol, KFIX.
Head of Business Development at Fidessa, David Jenkins, stressed the importance of localising their global solutions and infrastructure to cater for regional regulatory and market requirements, “ensuring firms like Daiwa are able to trade different markets from a consolidated platform as efficiently as possible.”
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