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Fidessa’s hosted Canadian trading platform experiencing significant growth
Toronto, 27th February 2008 Fidessa group plc (LSE:FDSA) provider of the Fidessa and Fidessa LatentZero trading solutions for the sell-side and buy-side, today announced it has five clients already signed for it’s fully hosted Canadian trading platform.
The Canadian hosted trading platform was launched in January 2007 and was developed to meet client demand for a hosted solution based on the same robust and scalable foundations as Fidessa’s successful enterprise Canadian trading platform. The hosted platform combines electronic order and execution workflow along with real-time, multi-currency trading, position keeping and reporting.
The Fidessa platform provides intelligent navigation of Canada’s increasingly fragmented capital markets system through its end-to-end trading solutions and advanced trading tools that include: Pairs trading, list management and wave trading tools along with Fidessa BlueBox; Fidessa’s Algorithmic Management System (AMS) that is totally integrated within the Fidessa OMS.
“Canada’s brokers are increasingly in need of smart routing and intelligent order and execution solutions as Canada’s markets become more complex,” said Ron Lee, head of Fidessa Canada. “The main driver for Fidessa’s success in Canada is based on that need. From order management and execution to market data, and middle and back office functionality, Fidessa is the only complete solution for trading in Canadian markets.”
Its success has been fueled by Fidessa’s ability to develop and enhance the product’s functionality specifically for the Canadian market. Pairs trading is just one example of how Fidessa is filling a technology gap not previously filled by the incumbent suppliers in the region. Fidessa has also been actively connecting to additional Canadian displayed and dark liquidity sources as they appear.
Fidessa also offers brokers consolidated market data displays, a “point and shoot” capability that allows traders to hit multiple orders in multiple locations, and enhanced electronic order audit trails so traders can develop historical execution data for each exchange. Fidessa provides firms with a single, robust trading platform that has been customized for the Canadian market, removing the need for multiple trading applications, which might result in slower executions and inferior prices.
Fidessa will be exhibiting its Canadian trading platform and advanced trading tools for the sell-side along with its Fidessa LatentZero Execution Management Workstation and Minerva OEMS buy-side solutions on stand 116 at the Canadian Security Traders association (CSTA) Winter Vendor Fair, February 28th, Design Exchange, Toronto, Canada.
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 over 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 25,000 users across 850 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 £240m, has delivered 30% compound growth since its 1997 listing and now employs 1,500 people globally.
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