Pictet & Cie joins Fidessa connectivity network
London and Geneva, 6th December 2010 - Fidessa group plc (LSE:FDSA), provider of high performance trading systems, market data and global connectivity for the buy-side and sell-side, today announced that Geneva-based Pictet & Cie has joined its global connectivity network. Pictet is one of Switzerland's largest private banks with assets under management and custody totalling CHF 376 billion (€282 billion/US$ 385 billion) as of September 2010.
By joining the Fidessa network, Pictet has gained access to one of the world's most wide-reaching, stable and powerful trading networks, enabling it to extend its trading business by attracting international flow. At the same time, the deal cements the ability of Fidessa's worldwide community of buy-sides and sell-sides to route Direct Market Access (DMA) flow to one of Europe's most important financial hubs. The deal strengthens Pictet's relationship with Fidessa and builds on its use of Fidessa's front-end technologies at its US and Canadian locations.
Simon McDowell, managing director for connectivity at Fidessa, commented: "Switzerland is an important part of our wider efforts to expand and consolidate our presence across EMEA. Pictet is joining a growing community of Fidessa buy-side and sell-side customers in Switzerland, including EMS Workstation users, global connectivity network members and trading platform clients, who regard Fidessa as a key strategic partner for achieving their business goals."
Fidessa's connectivity network is one of the world's largest and most diverse trading communities, linking more than 2,400 buy-side institutions to more than 550 brokers and 140 plus markets across EMEA, Asia Pacific and the Americas. Its network now carries executed order flow of around US$700 billion each month.
Founded in 1805 in Geneva, Pictet & Cie is today among Switzerland's largest private banks, and one of the leading independent asset management specialists in Europe, with CHF 376 billion (USD 385 billion) in assets under management and custody at 30 September 2010. Pictet & Cie is a partnership, owned and managed by six general partners with unlimited liability for the bank's commitments.
The Pictet Group, headquartered in Geneva, employs more than 3,000 staff. The group has offices in Barcelona, Basel, Dubai, Florence, Frankfurt, Hong Kong, Lausanne, London, Luxembourg, Madrid, Milan, Montreal, Nassau, Paris, Rome, Singapore, Turin, Tokyo and Zurich.PDF (0.05 MB)