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19th June, 2006
Fidessa® launches
multi-asset trading platform
London – FOW Derivatives &
Securities World, 19 June 2006 – royalblue
(LSE:RYB) today announced that it has extended
its equities platform to support exchange-traded
derivatives. The first phase will deliver connectivity
to Euronext.liffe, EUREX, CBOT and CME. The platform
provides robust, super-resilient trading across
asset classes along with smart order flow, integrated
market data, risk management and connectivity
to an extensive network of financial players across
a global market.
For the past 18 months, the Fidessa development
team, led by Stephen Grob, head of derivatives,
has worked to extend the core strengths of the
equity platform and ensure that all enhancements
support an asset agnostic architecture.
Grob comments: “Unlike other vendors, we
made the decision from the outset to extend and
build upon our own architecture in order to end
up with a truly integrated platform. This will
pay real dividends in areas such as smart order
routing and algorithmic trading whereby we can
go across asset class and across exchange simultaneously."
Fidessa has traditionally specialised in cash
equities and has built up a strong reputation
for offering a highly resilient and robust platform
which is now used by over 85% of global, tier-one
equity brokers. Fidessa's move into derivatives
is timed to reflect a growing need within both
the sell and buy sides for global multi-asset
platforms that smaller, single-asset vendors do
not have the resources to develop or, more importantly,
operate and support.
With these new cross asset capabilities, the
Fidessa platform enables its users to reduce trading
costs, simplify infrastructure, improve order
flow and offer a better range of services to their
customers. The single platform approach also simplifies
regulatory compliance with directives such as
MiFID and Reg NMS, by reducing the number of disparate
systems and data feeds that are impacted and making
the demonstration of best execution easier, especially
for structured products across asset classes.
Paul MacGregor, director of technology partnerships,
Euronext.liffe, comments: “This move by
Fidessa will help bring the cash and derivatives
markets much closer together. We believe this
will open up new distributions channels for us
and will consequently attract new order flow across
our markets in Amsterdam, Brussels, Lisbon, London
and Paris.”
Grob adds: “As a more recent entrant into
the derivatives space we have had the luxury of
being able to take a more considered view on functionality.
We then validated this approach with our customers
before moving into a full production environment.
We have now laid the groundwork for firms to structure
their businesses around the needs of their clients
free from the technical limitations of individual
trading platforms."
Fidessa will also be adding support for US equity
options exchanges beginning with ISE and CBOE
and will then be addressing energy and other commodity
markets.
The Fidessa product suite provides integrated
trading, market data and connectivity solutions
to over 8500 users at 200 institutions worldwide.
Fidessa’s connectivity network provides
links to over 600 buy-side institutions, 140 brokers
and 67 exchanges globally.
About Euronext.liffe
Euronext.liffe is the derivatives business of
Euronext. It is the world's second largest derivatives
exchange, measured by the value of the business
transacted via the exchange every day. Euronext.liffe
has created a single market for derivatives by
bringing all its derivatives products together
on a single electronic trading platform, LIFFE
CONNECT®. The replacement of multiple trading
venues with a single market has made cross-border
trading easier and cheaper. For more information,
please visit www.euronext.com.
About Fidessa group
Fidessa group is a world-leading supplier of multi-asset trading, portfolio analysis, decision support, investment compliance, market data and global connectivity solutions for both the buy-side and sell-side globally. Available as a simple workstation or as an integrated application suite, the Fidessa and Fidessa LatentZero product suites are built on the clear vision of providing the richest functionality, coverage and distribution to the financial markets community.
The Fidessa suite is used by 85% of tier-one, global equity brokers providing sophisticated trading, market data, order management and execution capabilities to all tiers of the sell-side.
The Fidessa LatentZero suite is used by the world’s largest asset management firms through to smaller specialist managers and hedge funds, and provides comprehensive portfolio analysis, real-time P&L, what-if analysis, investment compliance, order and execution management, and post trade processing tools, across all asset classes, to all tiers of the buy-side.
Fidessa’s global network carries over 95 million messages a month covering DMA, Care and Algorithmic orders, Indications of Interest and FIX Allocations between around 1,500 buy-sides and 255 brokers across 92 exchanges worldwide.
Head-quartered in London and with offices in New York, Boston, Tokyo, Hong Kong, Paris, Toronto and San Francisco, Fidessa group serves around 22,000 users across 520 clients globally. Fidessa group was founded in 1981, has revenues of $270m, employs over 1,100 people and has been fully listed (LSE:FDSA) since 1997.
www.fidessa.com
www.latentzero.com
For further information, please contact:
Simon Barnby
Fidessa
+44 20 7929 9250
simon.barnby@fidessa.com
Evelina Amanatidou
Team 660, Metia for Fidessa
+44 (0)20 3100 3592
evelina@metia.com
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