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26th February, 2007
FidessaŽ revolutionises algorithmic trading with launch of BlueBox
London/Tokyo/Hong Kong – 26th February 2007 – royalblue (LSE:RYB), provider of Fidessa, today announced the European and Asian launch of BlueBox, its fully integrated, scalable algorithmic trading system. Available in the US since last October, BlueBox provides easy access to pre-built, industry standard algorithmic strategies along with a toolkit for clients wanting to build their own proprietary models.
Built on Fidessa’s pedigree technology, used by over 85% of global, tier-one equity brokers, BlueBox incorporates low-latency market data and global exchange connectivity, thus providing a proven, easy to deploy, cost-effective solution for brokers keen to enter the algorithmic trading space.
Philip Slavin, head of European product strategy at Fidessa, comments: “With BlueBox we have redefined the algorithmic market by lowering the financial barriers and complexities of algorithmic solutions. BlueBox enables brokers to operate their own algorithmic trading system without the need to tackle complex system integration issues.”
Bluebox not only provides access to industry standard, out-of-the-box algorithms, including VWAP, TWAP, Arrival Price and Percentage of Volume, but also exposes its underlying framework to provide a functionally rich environment for developing and deploying proprietary algorithms for both equities and derivatives. As such, BlueBox also provides an easy to maintain architecture for brokers who already have an algorithmic solution in place, allowing them to re-focus on the development of their algorithmic models.
Slavin adds: “As competition grows, it’s important that brokers have the flexibility to tailor standard algorithms for specific needs, and to differentiate their offering with the provision of their own bespoke models. BlueBox provides a high-level Java toolkit to allow them to do just that. Developers can design, test, validate and improve their models before releasing them into a live trading environment.”
Additionally, BlueBox enables traders to monitor and manage their algorithmic trading performance from their existing OMS screens. With its unparalleled algorithmic management features, BlueBox enables traders, for the first time, to step in and adjust parameters on-the-fly when market conditions change, giving them ultimate flexibility and control.
“BlueBox allows traders to build confidence in their models prior to offering them to their clients. By extending their services to include customised algorithmic strategies, brokers can attract additional flow without the need to pay away commissions, thus retaining trading volume and giving them an even greater opportunity to differentiate themselves in a competitive marketplace”, concludes Slavin.
BlueBox heralds the evolution of Fidessa’s trading platform into an algorithmic management system (AMS) by offering algorithmic trading capabilities totally integrated with its order management system (OMS). Furthermore, BlueBox is suitable for any size of firm and delivers true straight-through-processing whilst facilitating compliance with regulations such as MiFID.
BlueBox is part of Fidessa’s advanced trading suite which includes List Management, Wave Trading, Pairs Trading and analytics, all of which are built on and integrated with Fidessa’s global, multi-asset trading platform used by over 10,000 users at around 320 clients worldwide.
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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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