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Fidessa targets German brokers with new product initiatives
London, 20th November 2007 - 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 the leading supplier of multi-asset trading, portfolio analysis, decision support, compliance, market data and connectivity solutions for firms involved in trading the world’s financial markets. Fidessa’s products and services are built on the simple vision of making it easier to buy, sell and own financial assets of all types on a global basis.
Pedigree
A dynamic, growing company with a proven track record, Fidessa is recognised as the thought leader in the marketplace, with an unrivalled set of products and services which set the benchmark for this industry and, uniquely, serve both the buy-side and sell-side communities globally.
Experience
With 28 years' experience delivering powerful, resilient, mission-critical systems, Fidessa develops all its products itself from the ground up, investing heavily in their continual evolution. The resulting leading-edge, truly integrated solutions have established Fidessa as the industry’s number one choice, and are used by over 85% of tier-one, global financial institutions.
Scale
Headquartered in London and with regional operations across Europe, North America, Asia, and the Middle East, Fidessa supports over 24,000 users across 730 clients, serving a broad spectrum of customers from major investment banks and asset managers through to specialist niche brokers and hedge funds.
Established
Fidessa group is listed on the London Stock Exchange (symbol FDSA) and is a FTSE 250 company. Fidessa has a turnover of around £200m, has delivered 30% compound growth since its 1997 listing and now employs 1,400 people globally.
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