As capital market firms in Hong Kong increasingly look to global technology solutions to automate, simplify and streamline their workflows in the face of global economic volatility, ION’s Fidessa platform has been chosen by Chinese financial services firm Soochow Securities to grow its Hong Kong-based investment banking and brokerage services.
Exasperated by lingering concerns over the US debt ceiling negotiations as well as China’s economic slowdown, Hong Kong firms are looking outwards to gain a competitive edge. Soochow, an international financial services firm headquartered in Suzhou, China, today announced that it will will use Fidessa to grow its Hong Kong-based business in order to stay competitive in the global marketplace.
Soochow offers brokerage services for securities, funds, and bonds, alongside investment banking, dealing, asset management, and credit trading. To expand their businesses and build links internationally, Chinese brokerage firms like Soochow are seeking reliable and scalable technology solutions to support their operations. ION’s Fidessa platform will give Soochow access to international trading and market data, and integrated risk management capability, providing a “one-stop-shop” trading platform for APAC and international equities markets.
Soochow is the 20th Chinese brokerage firm ION has partnered with since 2013.
“ION is delighted to partner with Soochow Securities Co. Ltd to deliver a successful go-live of our Fidessa equities trading platform,” said Robert Cioffi, global head of equities product management. “Fidessa is a trusted solution for brokers across the APAC region. We look forward to working with Soochow to support their expansion plans and achieve their business objectives.”
Li Chen, vice chairman at Soochow (HK), added: “As the only listed securities company in Suzhou, we need technology that can simplify and automate workflows to boost efficiency and scale our business. We chose the Fidessa trading platform as it is the market leader in the equities space and the top choice for sell-side institutions.”
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