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6th November, 2007
Fidessa offers connectivity to Gruppo Borsa Italiana clients
through BIt Systems ASP network
London – 6th November 2007 - Fidessa group plc (LSE: FDSA), a leading supplier of multi-asset trading systems, market data and global connectivity solutions, today announced its connectivity to the ASP network of BIt Systems S.p.A, the IT company of Gruppo Borsa Italiana. This expanding marketplace is focused on the development of new and advanced technologies aimed at improving market access and financial services.
This extends Fidessa’s existing connectivity to the Italian financial community by linking together the networks of buy-side and sell-side firms that both Fidessa and BIt Systems have in place. Brokers and buy-sides on the ASP network run by BIt Systems can now connect to the 230 brokers and 1,300 buy-sides available on the Fidessa network and vice versa.
Claudio Modenesi, head of ASP Services for BIt Systems says: “The connection of our networks provides customers of BIt Systems and Fidessa with more trading destinations and sources of order flow – all through an ultra low-latency architecture. This agreement follows BIt Systems’ growth towards international customers and new value added services.”
Fidessa is already the largest supplier of software for brokers trading on the London Stock Exchange (LSE) via the LSE’s TradeElect platform. With the recent merger between Borsa Italiana and the LSE, Borsa Italiana will move its cash equities trading to the TradeElect platform from the LSE. Consequently, Fidessa will be ideally placed to provide access to the new platform for Borsa Italiana clients, as well as cross-market access to clients wishing to send/receive order flow to both markets.
Simon Barnby, director of global marketing communications at Fidessa adds: “The merger of Borsa Italiana and the LSE creates demand for proven TradeElect connectivity among the Italian stock exchange member community. We are excited to be working with BIt Systems to offer strong, scalable solutions and connectivity services to such member firms as well as to the broader community that wants to access the enlarged liquidity pool created by this merger.”
Fidessa will be exhibiting its trading solutions on stand 9 at the BIt systems ASP – Community EXPO, November 15th, Palazzo Mezzanotte – Congress & Training Centre, Milan, Italy.
About BIt Systems
BIt Systems S.p.A. is the technological company of Gruppo Borsa Italiana. The Company is responsible for the management, maintenance and development of the Group's information systems. It also provides Project Management and Systems Integration services to private and public operators, financial institutions and to the exchange industry, for the development and management of applications.
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 products 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 multi-asset 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 130 million messages a month covering DMA, Care and Algorithmic orders, Indications of Interest and FIX Allocations between over 1,800 buy-sides and 310 brokers across 100 markets worldwide.
Head-quartered in London and with offices in New York, Boston, Tokyo, Hong Kong, Paris, Toronto and San Francisco, Fidessa group serves 22,000 users across 600 clients globally. Fidessa group was founded in 1981, has revenues of around US$350m, employs over 1,200 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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