In other FinTech News, Horizon Software has a new partner and Vela Trading Technologies has new acquisitions.
Marusan Securities Signs On to Fidessa
Marusan Securities Co., Ltd., an independent securities firm headquartered in Tokyo, has deployed Fidessa’s transaction technology to better serve its wholesale agency trading customers, say officials at the firm and Fidessa.
In fact, 11 securities firms in Japan are using Fidessa for wholesale agency trading purposes, according to the vendor.
“We have long been considering an upgrade of our front-office system in order to meet the changing needs of our clients,” says Hisashi Tamura, general manager for the institutional sales department at Marusan Securities, in a prepared statement. “With the new system in place, we will be able to better serve our clients’ needs in a more efficient and accurate manner, improve our execution service to our existing clients and expand our market share by serving new customer segments.”
The effort to better serve customers appears to be in line with a push by Japan’s Financial Services Agency to encourage a greater awareness of the importance of fiduciary duty in terms of meeting clients’ needs, which includes buy-side firms and all market participants.
“In addition,” according to Fidessa, “European regulation in the form of MiFID II, which emphasizes market transparency and investor protection, will affect those firms outside of Europe that trade European markets when it comes into force in January 2018. With these global and domestic regulations emerging, achieving and proving best execution is expected to become a key requirement in the Japanese market.”
Marusan got its start in 1909 and registered its Marusan Securities Co., Ltd. business in March 1944, officials say. The firm offers financial services including dealing, brokerage, underwriting, distribution of securities, and investment trust.
Horizon Software and Ultumus Partner to Facilitate ETF Efficiencies
Ultumus, a provider of near real-time exchange traded fund (ETF) data, is partnering with Horizon Software, an electronic trading solutions and algorithmic technology supplier, to create a turnkey ETF data and trading technology solution that will facilitate ETF trading efficiencies, officials say.
The new deal is intended to yield “a fully-integrated solution for ETF quoting and hedging,” that will serve as “a single point for analyzing and executing ETF trades,” officials say. The goal is to enable market makers and traders to quote and hedge transactions “more accurately and much faster than before.”
“Although the global ETF market volumes are growing very quickly, there are also significant inefficiencies in the way that ETFs are traded and executed,” says Sylvain Thieullent, CEO of Horizon, in a prepared statement. “Our partnership with Ultumus addresses many of the key problems and is expected to accelerate the adoption of electronic processing solutions across the ETF market,” Thieullent says.
Vendor officials say the key benefits include:
- Compositions within minutes of an event, rather than the industry-standard of hours;
- Full data coverage, with over 30 header fields, compared to the less than 10 available from the vast majority of providers;
- Enhanced economics, such as: tax reclaim, redeem corporation tax, etc., rather than ignoring valuable published data;
- And validated data points such as net asset value (NAV) recalculations, tracking of capital changes and so forth to ensure data quality rather than simply “publishing blind.”
Vela Completes Object Trading acquisition
A high performance trading vendor, Vela Trading Technologies has completed its acquisition of Object Trading, a provider of a direct market access (DMA) platform, pre-trade risk controls, and analytics applications.
The acquisition will broaden Vela’s high-performance trading and market data technology solution set and will complement the acquisition of OptionsCity Software, which is a provider of futures and options trading and analytics solutions, officials say.
These acquisitions are key to Vela’s growth strategy and “enable Vela to provide an end-to-end trading platform with global, multi-asset class coverage,” officials add. The combined capabilities include high-performance support, low-latency market access and market data; industry leading pre-trade risk controls; drop copy functionality; post-trade processing; trading analytics; plus, a front-end GUI for price discovery, workflow management, and order entry.
Officials add that the Object Trading and OptionsCity businesses will be rebranded “over the next few months as the respective products and services are integrated into the Vela portfolio.”
All existing Vela, OptionsCity and Object Trading technology, products and services “will continue to be invested in and supported, with a commitment to innovation and to helping clients grow their business,” officials add.
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