This new joint offering will satisfy an increasing client need for global execution reach from home markets. One of the major advantages is that from a single point of access, the leading South African fund managers and hedge funds connected to the Peresys BPN can now trade with MetaBitâs 33 connected brokers executing on Japanese exchanges and all other regions, while MetaBitâs Japan client base who have particular interest trading into South Africaâs top 30 brokers, can route orders through a simple local connection to MetaBitâs local MLH.
The linking of the two networks represents another milestone for both firms that underscores a common vision to provide their respective home markets with reliable yet affordable electronic access to global execution venues using the internationally accepted FIX messaging protocol.
According to Richard Bell, Director at Peresys, âThe MetaBit link extends the global reach of the Peresys electronic trading community, which already includes Europe and the US, into the Asian continent. Our strategic focus continues to be bringing the worldâs markets within easy and efficient reach of the South African trading community and vice versa. We view partnerships like these as both crucial and mutually beneficial and are pleased to be associated with MetaBit.â
Daniel Burgin, CEO of MetaBit adds, âIn recent months, MetaBit has seen increasing demand from Japan based clients, both institutional and retail, to have efficient access to trade into South Africa, with a particular focus on trading listed gold stocks,â He further explains âMetaBit is in an optimal position to satisfy such need, particularly as Japan based clients favor a local one-stop shop for support and maintenance for offshore trading. MetaBitâs unique local FIX hub, the MLH, plays an increasingly important role in Japan as the premier cross border hub for outbound flow to markets worldwide. Of course, the service is also available for our non Japan based Asian clients.â
The common denominator overlaying the Peresys and MetaBit services is that they are leaders in the application of the FIX Protocol and operate pure cross border FIX hubs that are based on Orc CameronFIX technology.