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20th November, 2007
Fidessa targets German brokers with new product initiatives
FRANKFURT - European Banking and Insurance Fair (EBIF) – 20th November 2007 – Fidessa group plc (LSE: FDSA), provider of the Fidessa and Fidessa LatentZero trading solutions for the sell-side and buy-side, is showcasing several new product initiatives at EBIF in line with its strategy to address the needs of the German domestic market. These new services include the addition of Xetra member trading to its Fidessa European Trader Workstation (ETW) product as well as its MiFID client classification and virtual markets modules, which are now available across the entire Fidessa product suite.
Designed specifically to meet the requirements of small and mid-tier equity broker/dealers across Europe, Fidessa’s ETW provides a one-stop solution for member and non-member trading services, seamless electronic order handling, powerful order management functionality and sophisticated pre- and post-trade analysis tools.
Simon Barnby, global director of marketing communications at Fidessa comments: “Member trading on Xetra has been available on our global trading platform for a long time. By adding this gateway to our ETW product we can now provide brokers in Germany with a powerful yet cost-effective means of managing their trading activities. ETW offers a fully managed and hosted trading solution tailored to meet European exchange trading requirements.”
Launched in September, Fidessa’s MiFID suite, already boasts over 50 orders from clients. The client classification module enables brokers to comply with the MiFID requirements by enabling them to record default classifications for each individual account via a client maintenance spreadsheet and to override and record any exceptions to these classifications. Its virtual markets service enables users to view quotes or orders for an individual instrument across multiple markets in a simple and effective way and thus uncover liquidity and ensure best execution obligations are met.
Ian Salmon, head of the MiFID programme at Fidessa, comments: “We have spent the past two years working with regulators and clients to develop our MiFID suite and ensure that it addresses not only the needs of the UK market but also the whole of Europe. The enthusiastic take up we have seen since its launch in September endorses this investment. We continue to upgrade our MiFID services, including the recent addition of new venues such as Chi-X and BOAT.”
Fidessa provides integrated multi-asset trading, market data and connectivity solutions to over 16,000 users at around 500 clients around the world, and serves over 85% of global, tier-one equity brokers. Fidessa’s connectivity network provides links to over 230 brokers, 1,300 buy-sides and 83 exchanges globally.
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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