FIDESSA GROUP PLC Press Release
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Singapore, 6th January 2016 - Fidessa group plc (LSE: FDSA) today announced that Maybank Kim Eng has deployed its equities order management and execution platform as their Asian trading solution for global clients.
With Asia being such a fragmented marketplace, many firms have ended up running different local systems for each market, which presents a real challenge when they want to offer a seamless regional trading service to customers.
The Fidessa platform will allow Maybank Kim Eng's global institutional clients to trade across Asia via a unified system and benefit from superior front and middle office capabilities. A much more responsive FIX client on-boarding environment, together with advanced program trading, algorithmic and IOI capabilities, will substantially increase the brokerage firm's ability to deliver more timely and valuable execution services to their clients.
The implementation was achieved through an integrated mobilisation of teams on both sides, a partnership that resulted in the simultaneous rollout of the platform to traders in 10 different countries with all key clients migrated successfully to the new system.
Maybank Kim Eng selected Fidessa to underpin their regional and global growth ambitions. Ami Moris, Regional Head, Equities, at Maybank Kim Eng, said Fidessa's technology was a necessary upgrade to rationalise and deliver a globally competitive service to clients: "It is important for Maybank Kim Eng to offer the best possible capabilities to both local and global clients wanting to do business in Asia", she said. "This new Fidessa technology allows us to on-board clients rapidly and systematically execute across the Asian markets, with a core focus on ASEAN, with rich information flowing back to the clients. The implementation is a key milestone in our strategy to offer best execution to clients in Asia."
Maybank Kim Eng won a number of accolades in 2015, including awards for its stockbroking, prime broking and investment banking capabilities. Ami Moris added that the Fidessa technology would allow the bank to build on these achievements: "For us, the solution offers the flexibility and scalability we need. By working in an ongoing and collaborative partnership with an innovative fintech like Fidessa, we can concentrate on ensuring service excellence to clients as well as strategic business expansion throughout Asia."
Jean-Pierre Baron, Managing Director for Fidessa in Asia, said the firm's specialisation in Asian trading had been key to its recent success in South-East Asia. "We invest heavily in adapting our system to the geographic and regulatory diversity of the region", he said. "Partnerships such as this one with Maybank Kim Eng have raised the functional coverage of our system, particularly with
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regards to pre-trade risk checks and synchronisation with local rules. We are happy that this implementation has completed on time and the system can now be used with confidence across Asia."
Fidessa's trading platform was named Best Sell-side Order Management System at the prestigious 13th annual Waters Rankings awards in July last year.
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Fidessa Group plc issued this content on 2016-01-06 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-06 09:04:14 UTC
Original Document: http://www.fidessa.com/document/3688
