Fidessa is beefing up its Asia-Pacific operations with new hires and the opening of a larger regional headquarters in Hong Kong.
“As the Asian markets have evolved, and regulations have been reviewed and relaxed, significant opportunities for more sophisticated automated trading strategies have been unleashed,” says Nevin Price, Regional Manager for Fidessa in Asia.
He adds, “Coupled with this, local institutions are now looking to compete with the larger global players by diversifying and offering similar trading services with international reach, and all this means the demand for scalable trading systems has rapidly grown.”
Price says the Asian operations staff has increased twofold over the last couple of years to reach about 100 employees and plans are to continue adding resources in key areas.
“The launch of our Fidessa LatentZero products in the region has meant key sales and support staff have been added to facilitate growth in this segment and we have expanded out of our Hong Kong base and in to Singapore on the back of client demand,” he explained. “The expansion of our connectivity network across the region has also been a catalyst for growth, and we have added a number of new staff in support of this initiative too.”
In order to grow effectively in the region, Price says Fidessa will evaluate market requirements to ensure the right levels of infrastructure investment and operational capabilities are in place.
“We will leverage our global nature to drive efficiencies, while still taking into account the regional nuances that are required,” Price adds.
Price says the growing team will focus on a few key areas. “We want to establish the Fidessa LatentZero brand in the buy-side community, increase the Asian distribution of the Fidessa global connectivity network, build on the momentum we have established with the local broker community for our hosted trading platform solution, and continue to support our tier-one enterprise clients as they adapt to and exploit changes to market regulation as well as assisting them as they introduce new products and services for their clients,” he says.
In addition, Price says Fidessa plans to launch its BlueBox range of algorithmic trading solutions in Asia in mid 2009.