[Excerpt] Direct-market access (DMA) remains a strong growth area as Japanese firms look to reduce costs and increase flexibility.
One leading provider, Tokyo-based MetaBit Systems, in October added buy-side compliance validation and advisory order routing to XiliX, its multibroker DMA platform. Daniel Burgin, CEO of MetaBit, which was founded in 2000, says the new functionality “not only checks compliance functions against Japan’s regulations,” but “each buy-side firm or asset manager could create its own internal compliance rules that are stored in a client-specific database against which XiliX performs real-time checks when trading.”
According to Celent’s Katkov, smaller Asian vendors such as MetaBit can compete with larger global rivals because they are closer to the local markets. The XiliX compliance enhancement, for instance, was developed in cooperation with Bridge Capital Securities, a Tokyo-based firm catering to asset managers and institutional investors.
“If it’s a compliance company it knows the compliance issues in that market, and if it’s a technology company it could have the technology customized for that market in terms of currency and regulatory needs,” Katkov says. “In addition, local companies mostly serve local buy-side firms and brokers which may be too small for SunGard or other big IT providers. It is a very rich landscape for service and technology providers in Asia in terms of responding to the crisis.”
Source: Securities Industries News, by Wang Fangqing, 05.01.2009
Filed under: Japan, News, Trading Technology, ダニエル・ブルギン氏, メタビット, Daniel Burgin, Derivatives, DMA Direct Market Access, FIX, Japan, MetaBit, MLH Market Liquidity Hub, Trade Connectivity, Trading Hubs, Trading Network, Transação Eletrônica, TSE Tokyo Stock Exchange, XiliX
