Fidessa: Japanese Brokers Live On TSE Arrowhead

Fidessa group plc, provider of award winning trading, portfolio management, compliance and connectivity solutions for the buy side and sell side globally, announced that the majority of Japans leading brokers are now trading on the Tokyo Stock Exchanges (TSEs) new

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Fidessa group plc, provider of award-winning trading, portfolio management, compliance and connectivity solutions for the buy-side and sell-side globally, announced that the majority of Japans leading brokers are now trading on the Tokyo Stock Exchanges (TSEs) new arrowhead system using Fidessa. arrowhead is the next-generation trading system developed by the TSE for its cash equities market and is designed to offer ultra-low latency and high-throughput access to satisfy the increasing demands of sophisticated trading institutions and high frequency traders. arrowhead went live on 4th January this year.

Fidessa has been working closely with the TSE over the last 12 months to test arrowhead and to ensure that the Fidessa trading platform is fully compliant with, and utilises all the advantages of, the new API . As a result, Fidessa clients receive the full benefit of all arrowheads performance capabilities coupled with Fidessas unrivalled functionality and its unmatched levels of service and reliability. Fidessas solution was recently independently verified to provide the lowest latency, highest throughput and most resilient access to international as well as local markets in Japan when compared to competitors in this marketplace. Fidessa also now provides ultra-low latency arrowhead data feed handlers along with its execution handlers, proven Japanese algorithms and risk management tools which are all fully integrated with an embedded FIX API direct to the market gateways to provide the lowest latency possible for trading the Japanese markets.

The majority of the leading brokers in Japan use Fidessa as their execution platform and Im pleased to say all our clients, were able to go live seamlessly on day one of the new arrowhead system, says Ian Chilton, chief executive of Fidessa in Japan. Many are also making use of the TSEs new co-location service with Fidessa, to ensure they have the fastest possible trading platform technology in the closest possible location, and so achieve the lowest latency access available to this new market.

The launch of arrowhead is also expected to radically change the landscape for trading in Japan by fuelling further the demand for algorithmic trading systems, as well as stimulating interaction between the main exchanges and alternative dark and lit trading venues – such as brokers dark pools and proprietary trading systems (PTSs).

The TSE’s arrowhead system is one of the most significant market developments to hit Japanese equities trading and, in order to take advantage of the opportunities presented by this, sell-sides will need the highest performance technology with the most comprehensive functionality.

D.C.

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