Banchile builds for the future with Fidessa's sell-side trading platform and connectivity network
Jan 22, 2013 (M2 PRESSWIRE via COMTEX) --
Fidessa group plc (LSE: FDSA) has announced today that Banchile, Chile's third largest brokerage house, has selected its Latin American sell-side trading platform to underpin its institutional trading activity. The scalable SaaS solution, which includes access to Fidessa's extensive global connectivity network, will provide Banchile with a firm foundation from which to pursue its growth strategy. The decision followed an extensive due diligence process by Banchile.
Fidessa's Latin American trading platform gives Banchile world-class technology and infrastructure, tailored to the region's specific local regulatory and market needs. Banchile will benefit from Fidessa's highly-sophisticated order management system, which delivers seamless straight-through processing of international institutional orders from order creation and routing, to automatic notice of executions and confirmations. Fidessa will also provide advanced trading tools, including algorithmic and basket trading capabilities, to augment Banchile's service offering and facilitate complex trading workflows. The implementation of these new functions will complement Banchile's research services and extend the services their execution desk provides.
In addition, Banchile will gain membership to Fidessa's global connectivity network, which processes order flow of more than $800 billion each month, granting it access to 3,200 buy-sides and 180 venues globally. The system will be hosted by Fidessa and co-located at the Santiago Stock Exchange. With better proximity to the exchange, Banchile will gain access to reliable, low-latency execution capabilities and be able to leverage the exchange's ongoing investments in infrastructure and improvements to its matching engine.
Jose Antonio Diaz, Chief Investment Officer at Banchile, commented: "Through Fidessa's trading platform, we are leveraging the most sophisticated and robust trading technology used by market participants across the globe. This enables us to offer world-class service to our growing institutional client base. Fidessa's in-depth knowledge of the region is evident and this, coupled with its strong reputation for delivery and support services, drove our decision to partner with them."
Alice Botis, Head of Business Development for Fidessa in Latin America, added: "We are delighted to add Banchile to our growing Latin American client base, demonstrating the strong demand for Fidessa solutions by domestic and international market participants. We are seeing a lot of activity in the Andean region with firms replacing legacy vendor and proprietary systems and investing in customizable, high-throughput, low-latency trading solutions to enable high-quality execution, greater operating efficiency and a solid basis for growth."
((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to firstname.lastname@example.org.
[ Back To TMCnet.com's Homepage ]