Fidessa group plc (LSE: FDSA), provider of high-performance trading, investment management and information solutions for the world's financial community, has today announced the opening of a Mumbai office, building on the strength of its other regional bases in Hong Kong, Singapore, Tokyo and Sydney.
Growing demand from Fidessa's global clients to trade Indian equities and derivatives has driven the establishment of a local team, office and datacentre facilities. Sayant Chatterjee, previously Fidessa's Senior Vice President of Business Development in New York, will head up the operations as Managing Director of India.
The Mumbai office and datacentres enable Fidessa to offer a fully-localised service to firms trading the Indian equity and derivatives markets, and enhances on-the-ground support for Fidessa's current clients in India.
Chatterjee commented: "We look forward to the opportunity to partner with our customers and Indian exchanges to become an established vendor in this market and adapt our globally successful trading platform for this dynamic environment. With growing customer demand for advanced trading technology and favourable developments in capital markets regulations on third-party outsourcing, Fidessa has decided to broaden its presence in India."
Through the local operation, clients will be able to access Fidessa's world-class multi-asset trading, risk management and connectivity solutions. A key component for Indian markets is the suite of advanced trading tools, which comprises Fidessa's algorithmic trading engine, BlueBox, as well as basket and pairs trading capabilities.
The office opening is a direct result of Fidessa's continued growth and focus in Asia, as well as the increasing demand for access to Indian markets through its products and services from domestic as well as international firms. Fidessa has opened three other new offices within the last 12 months, establishing operations in Sydney, São Paulo and Chicago, as global demand for its technology and expertise has continued to increase.