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Reuters joins forces with peresys to enable south african cross-border equities trading
18 May 2005
London - Global information company Reuters, (LSE: RTR.L, NASDAQ: RTRSY) today announced an agreement with Peresys, a South African based trading solutions provider to the financial markets, to link the two parties' electronic trading communities to enable cross border trading both into and out of South Africa. The partnership is now live and new clients have signed up for the service.
Through Reuters Order Routing network (ROR), Reuters offers a user-friendly trading solution that quickly and seamlessly links Reuters growing global community of institutions, broker-dealers and execution venues via an open and neutral order routing hub.
The Peresys Network includes a hosted FIX hub and spoke solution in Johannesburg as well as points of presence in London and New York to enable bi-directional order routing and direct market access for the South African trading community. The solution caters for all widely used versions of the FIX protocol, spanning equities, fixed income, and derivatives instruments.
With the link to the Peresys network, ROR users now have access to the South African market, while ROR brings Peresys users access to Reuters global network of around 200 brokers and 500 buy-side institutions. Several new clients have already signed up, with the first South African client being African Harvest Fund Managers, a leading asset management house. ABN Amro is one of the first major clients to join the service to give them direct market access into South Africa.
Leigh Henson, Director of Institutional Equities at Reuters comments: "We're very pleased to have joined forces with Peresys as the relationship plays to both parties' strengths. By combining Peresys strong local presence with Reuters global trading community, this relationship grows our global trading platform and enables easy access to route into South African Brokers."
According to Peresys Managing Director Ashley Mendelowitz, "We have always had a great relationship with Reuters and the connection to ROR gives our South African buy- and sell-side customers yet another option in reaching their global trading counterparties for order routing and direct market access utilising the FIX protocol."
Both buy-side institutions and broker-dealers can access a wide range of institutional and program trading desks worldwide via Reuters order routing capabilities, including advanced trading functionality from execution venues and algorithmic trading tools from the world's top brokers.
Contacts:
Yasmeen Khan + 44 207 542 0496
Reuters media relations yasmeen.khan@reuters.com
Margi Kark +27 11 575 1488
Peresys margi@peresys.co.za
About Reuters
Reuters (www.reuters.com), the global information company, provides indispensable information tailored for professionals in the financial services, media and corporate markets. Its trusted information drives decision making across the globe based on a reputation for speed, accuracy and independence. Reuters has 14,500 staff in 91 countries. This includes 2,300 editorial staff in 196 bureaux serving 129 countries, making Reuters the world's largest international multimedia news agency. In 2004, Reuters Group revenues were £2.9 billion.
Reuters and the sphere logo are the trademarks of the Reuters group of companies
About Peresys
Peresys (www.peresys.com) is a South African based trading solutions provider to the financial markets. It is a leader in the development and delivery of solutions for Exchanges, Fund Managers, Exchange Members, and Hedge Funds, with specific focus on FIX enabled Trading, Order Routing, Direct Market Access, and Securities Lending. Peresys has been instrumental in pioneering the use of the FIX protocol in South Africa, and is a member of Fixprotocol.org. The Peresys FIX Hub is powered by CameronFIX.
