Fidessa group plc (LSE: FDSA), provider of high-performance trading, investment management and information solutions for the worldâs financial community, has announced that IM Trust has selected Fidessa to act as its core technology platform. IM Trust will also be leveraging Fidessa's extensive global community to support plans for regional and international expansion. The Santiago-based full-service brokerage house will use Fidessa as its sell-side trading system provider on a Software as a Service (SaaS) basis to ensure local and foreign clients receive the highest quality execution with the best electronic trading tools.
IM Trust will be using Fidessaâs trading platform, which has been adapted to comply with local market needs, as its core order management system for seamless straight-through processing of cross-currency trading, order inception, trade routing and confirmation. In addition, it will use Fidessaâs advanced trading tools for algorithmic and basket trading as well as market data services. Following the implementation in Chile, Fidessa will be supporting IM Trust in its future plans for the Andean region, most notably Peru and Colombia.
With this agreement, IM Trust becomes a first mover in terms of providing its clients in the Andean region with the electronic trading tools they require to grow their positions in Latin America. In addition to leveraging these tools, its focus is on providing value to institutional and high net worth clients with a team of analysts whose coverage includes all companies in the IPSA Index, and who periodically issue sector and strategy reports all grounded in fundamental valuation models. IM Trust also benefits from integration with Fidessaâs global connectivity network. One of the largest of its kind, it includes more than 2,650 buy-sides and 650 brokers, connecting IM Trust to a diverse international trading community.
Hernan Arellano, Partner and Head of Equities at IM Trust, explained: âThis is a strategic move for us as investors across the world and locally turn their attention to Latin America. We knew we needed the best possible technology to compete in the global markets and offer the best execution service in LatAm. Naturally, we conducted a thorough review of similar solutions and decided Fidessa was a perfect fit for us. Not only is Fidessaâs technology sophisticated and robust, but they are already connected to a significant number of our clients and with the Bolsa de Santiago, which made our decision an easy one.â
Danielle Tierney, Analyst with Aite Group said: "It is great to see Fidessa continuing to expand their presence in Latin America. There is certainly a strong and growing need for proven technology solutions, especially among the growing Andean markets, which should continue to experience impressive growth in market levels and volumes as the exchanges continue to work to develop their internal and external trading infrastructure. Chile is an important hub of expertise from which to also gain exposure to fellow MILA participants Peru and Colombia, and as expansion takes place geographically, as well as in electronic trading, major brokers such as IM Trust will definitely stand to benefit from the use of Fidessaâs comprehensive services."
Alice Botis, Fidessaâs Head of Business Development in Latin America, added: âAs electronic trading takes hold across Latin America, there is a very strong demand for world-class systems to provide advanced trading tools and quality execution services to augment the portfolio of services a broker can provide to their clients. It is our continuing success in these local markets and the drive to provide professional local support that has led to our recent office opening in SÃ£o Paulo. We are delighted to be supporting IM Trustâs expansion by providing the tools they need to offer the best possible standard of execution in the regional marketplace.â