Bank of China’s subsidiary BOC International Holding (BOCI) has selected Orc Software’s algorithmic trading solution in order to expand its trading capabilities. BOCI has been an Orc customer since 2004 but the additional function on Orc algorithmic tool will enable BOCI to increase its market activities in warrants market-making and index options trading.

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BNY ConvergEx Group, a provider of global agency brokerage and investment technology solutions, has expanded its offering on Fidessa’s network to include: direct market access (DMA), care order, algorithmic trading solutions and access to ConvergEx Cross.

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Lehman Brothers has strengthened its trading offering in the Indian market with the introduction of LMX Trading Strategies for shares traded on the National Stock Exchange (NSE).

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Korean brokerage firm Leading Investment & Securities has rolled out Progress Software’s Apama platform to provide its international clients with algorithmic trading capabilities.

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Lehman Brothers has completed the roll out of its algorithmic trading suite, LMX Advanced Strategies, and its trade alert system, Panorama, in the Asia Pacific region. The investment bank has also added Japanese stocks to its proprietary crossing platform, Liquidity Cross (LXSM).

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Macquarie Capital Securities Asia, provider of electronic execution tools tailored for Asia, has joined the private, secure Charles River FIX Network , which is integrated with the Charles River Investment Management System (IMS).

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Cantor Fitzgerald (HK) Capital Markets Ltd has now completed three full months of uninterrupted service using the newly implemented Fidessa Asian trading platform for its Asia-Pacific equities business, based in Hong Kong.

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Japan’s Mitsubishi UFJ Securities (MUS) has completed the first phase roll-out of a new algorithmic execution service based on technology developed by UK vendor Fidessa.

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Nomura Securities has expanded its offering to institutional investors by giving access to its new algorithmic strategy engine through MetaBit’s XiliX trading platform. With this move by Nomura, Japan’s largest securities firm, MetaBit has further increased its Asian equity connectivity services. Joji Watanabe, managing director, electronic trading services department at Nomura Securities, comments: “Providing access to our algorithmic strategy engine through MetaBit is an excellent opportunity to offer Nomura’s electronic trading services to a wide range of institutional investors.”

Investment Technology Group (ITG), provider of technology-based trading services and transaction research, is introducing its Triton execution management system (EMS) into the Asia-Pacific region. The system enables buy side traders to trade more than 30,000 equities via multiple destinations across the Asia-Pacific markets from a single application on their desktop, rather than having to access multiple exchanges, brokers and algorithmic trading tools individually, ITG says. This should bring improved efficiencies to buy side trading at a time when Asia-Pacific trading firms are embracing more complex forms of electronic trading and adopting global standards of best execution, it believes.

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Agency broker NeoNet has expanded its trading and brokerage access to the Australian Securities Exchange. During 2007, NeoNet expanded its global round-the-clock execution services with trading on exchanges in Asia (AsiaMarketsIT.com, April, July 2007). “The addition of the Australian Securities Exchange is an important step to make our offering in the Asia-Pacific region even more complete,” says Simon Nathanson, CEO and president of NeoNet.

IND-X Securities has launched its operations using Fidessa LatentZero’s EMS Workstation to provide execution services, initially for Japanese equities trading. A subsidiary of Tokyo Stock Exchange-listed Japaninvest Group, Japan’s largest independent research house, IND-X Securities is a new securities firm established to provide a broker neutral, unconflicted execution hub for buy side firms trading Japanese stocks.

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It remains unclear whether dark liquidity pools will prove as popular in Asia as they are in the US and Canada, according to new research from analyst Celent.

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Despite algorithmic trading being unavailable on exchanges in India, the time is nearing for the government and regulators to give it the green light in the very near future. Indeed, some believe a decisive move could come as early as the end of 2007, with adoption starting in earnest next year.

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By Roger Aitken, Contributing Editor, A-Team Group

With the exponential rise of algorithmic trading in the US and European markets seemingly affirmed, how far beyond equities and into the Asian markets can it go?

The use of algorithmic trading strategies has grown rapidly in Europe during 2006 and into this year. An Edhec Risk Advisory survey revealed recently that 78 per cent of buy side firms were using algorithms, versus 58 per cent in 2004. Certainly, more firms have access to algorithmic trading systems, yet it appears that they still only use them for a small percentage of trades. Edhec’s preliminary survey findings highlight that algorithm deployment among European buy side firms accounted for just three per cent of business, compared to 11 per cent for direct market access (DMA) and 17 per cent for programme trading.

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Progress Software has created a team to market its Apama range of algorithmic trading software and fraud detection services to the Australian financial sector - a market in which the vendor already has Apama deployments, according to Chris Martins, principal product marketing manager, Progress Apama.

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By Angela Wilbraham, Chief Executive Officer, A-Team Group

Launching this fine magazine (which we hope you’re enjoying); diving into the online world of portals, blogs and podcasts; jet-setting around Asia supporting the launch of a new Asia Markets IT newsletter; juggling all manner of client deadlines ahead of the crucial SIFMA Show; (oh, and dealing with the usual administrative nonsense associated with running your own company). It’s keeping us more than busy here at A-Team HQ. But we have a feeling this mirrors what is becoming an astounding level of activity in our industry in general – everyone is just so under the gun it seems.

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Fidessa provider royalblue has launched its integrated algorithmic trading system BlueBox, made available in the US late last year, in Asia. Since November’s US launch of the enterprise version of BlueBox, which incorporates low latency market data and global exchange connectivity, the vendor has been using the system to build its own standard algorithmic trading models, and has now integrated BlueBox into its hosted platform solution.

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