Okasan Signs Fidessa for Prop Trading

Okasan has been using the vendor's software for its cash equities and derivatives business since late 2011, and will now use the Japanese platform for multi-asset strategies and high-frequency activity, implementing Fidessa's BlueBox software for algorithmic trading.

"We have decided to expand our prop-trading business internationally and Fidessa's trading platform will enable us to extend our coverage beyond the domestic equities market," says Kazukiho Kitagawa, senior general manager in the proprietary investment department at Okasan Securities. "We selected Fidessa for a number of key reasons. Firstly, it provides an integrated multi-currency and multi-asset trading capability across equities, futures and options, along with access to a comprehensive global connectivity network. Secondly, the service will cover all the system upgrades required for changes in regulation and exchange connectivity as a result of the Tokyo Stock Exchange and Osaka Securities Exchange merger.

"And thirdly, Fidessa has been running live and stable in our agency business for the last year and we felt that it would make a lot of sense to integrate the trading system across our agency and prop businesses," he continues.