Mito Securities, a Japanese domestic securities house, has selected Fidessa’s hosted Japanese trading platform for its Japanese cash equities trading.
The firm will use Fidessa’s front and middle-office trading tools as well as the integrated market data and algorithmic trading tools.
In a statement, Michikazu Ando, Executive Officer at Mito Securities, said, “Fidessa has a strong reputation for high performance products in Japan, and that was very important to us when choosing our trading platform, given the scheduled launch of Arrowhead, the next generation trading system for cash equities, on Tokyo Stock Exchange next year.”
He added, “We also found the hosted nature of the service appealing from a cost perspective; it keeps the cost of ownership at a manageable level and meets our needs exactly. We intend to develop our use of Fidessa further in the months following the implementation by making increased use of its BlueBox algorithmic trading engine, which is a key part of the platform.”
Mito Securities is the first domestic broker to sign on for Fidessa’s hosted Japanese trading offering.