Fidessa LatentZero announces over 40% of Minerva OEMS clients now live on its managed connectivity service
London, September 16, 2009: Fidessa LatentZero, one of the world's leading providers of front-office and connectivity solutions to the buy-side, has announced that its Managed Connectivity Service is now being used by over 40% of its Minerva OEMS clients, an increase of over 60% in the last year.
The Managed Connectivity Service is a multi-asset class trading service that provides complete management of customers' connectivity needs from their Minerva Order and Execution Management System (OEMS) to trading counterparties around the world. The service provides 24-hour global operational support plus ongoing administrative functions, such as certifying new broker connections and supporting complex non-equity workflows, at significantly lower cost than the provision of in-house resources.
The service sits on top of and is fully integrated with Fidessa group's own connectivity network, which serves more than 400 brokers across 120 execution venues globally, as well as the major ECNs, crossing networks and ATSs covering equities, fixed income and FX, and is compatible with both FIX and proprietary, non-FIX, message types. The most recent additions to the service include ICAP BlockCross, Pulse BlockCross and Currenex, bringing the total number of ATS partners to 16, with more in the pipeline for the coming months.
Chris Gregory, head of connectivity services for Fidessa LatentZero, said: "The Managed Connectivity Service is a 'one-stop shop' covering all our clients' connectivity needs, and takes the worry out of managing broker and ATS connections in a constantly evolving trading landscape. Since we launched the Managed Connectivity Service almost three years ago, we have been delighted with its rapid expansion and are looking forward to adding more clients, brokers and destinations in the near future to ensure that we continue to lead the order management systems market in this way."
The combination of this service with Fidessa group's global network is unique, offering clients a single, robust provider for both the management of a FIX infrastructure and the provision of an order routing network, and is a further example of the opportunities realised by the integration of LatentZero into the Fidessa group.PDF (0.06 MB)