ION has been registered as an independent software vendor with BSE, with its Fidessa trading platform certified for cash equities trading on the exchange. Bob Cioffi tells Global Trading why it’s the perfect fit for the Indian markets.
Fidessa offers order management, algorithmic trading and risk management services, with the goal of providing simplicity, reliability and automation to users.
On why the solution is well-suited to the Indian markets, Bob Cioffi, global head of equities product management at ION Markets, told Global Trading: “Fidessa’s capabilities are well aligned with the needs of the India market where much of the growth is from retail investors and therefore requires stability and scalability as well as access to the full suite of OMS functionality including advanced algorithms.”
Many Indian brokers are already using the platform for trading or connectivity outside of India, ION reported, stating that its approval by BSE will help to expand and develop the country’s capital markets. Cioffi shared that the firm is noting interest from existing clients with a presence in India as well as national brokers looking for a strategic vendor to grow their business with.
The next stage of the firm’s expansion into India will be gaining NSE empanelment, Cioffi told Global Trading. He added: “ION is working to expand its presence in India, and we see a significant opportunity to leverage our products and experience in the growing India market – which became the fourth largest equity market in the world earlier this year.”
Cioffi concluded: “Already established as a trusted market data vendor to brokers and exchanges in India, the partnership with BSE further strengthens ION’s position in the region, and unlocks Fidessa’s full capabilities for exchange members.”
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