Fidessa offers real-time connectivity to Omgeo’s OASYS Global for trade allocations and confirmations
London - 9th September 2008 - Fidessa group plc (LSE: FDSA), provider of the Fidessa and Fidessa LatentZero trading, market data and global connectivity solutions, today announced that it has partnered with Omgeo, the global standard for post-trade efficiency, to offer users of the Fidessa hosted trading platform in Europe real-time connectivity to Omgeo OASYS Global, the electronic trade allocation and confirmation solution for brokers/dealers, investment managers and custodian banks around the world.
With Omgeo OASYS Global, broker/dealers can send block confirmations directly to their clients and receive allocations electronically, enabling them to automatically send contract notes for affirmation of trade data. The trade processing system is always online with the host, ensuring immediate delivery of trade details and allocations, even during peak volumes.
Fidessa has partnered with Omgeo to provide a bureau service for its hosted platform customers in Europe delivering easy access to real-time trade allocation and confirmation services via a direct interface between the Fidessa Middle Office and Omgeo OASYS Global.
Previously, firms wishing to connect to Omgeo OASYS Global would run a batch process through an Omgeo OASYS Global workstation. With the new European bureau service, Fidessa customers will benefit from a direct and real-time connection.
Simon Powell, Regional Manager, Global Alliances, Omgeo, commented: "Partnering with Fidessa allows our mutual clients to easily realise the benefits of Omgeo OASYS Global Direct and a more streamlined post-trade environment. In today's volatile global markets, the minimisation of operational risk and the associated time and cost savings are critical factors for instilling confidence in the supporting infrastructure and the community as a whole. Through Fidessa's bureau service many more banks and brokers out there are benefiting from these efficiencies."
Fidessa's fully integrated Middle Office solutions enable customers to maximise straight through processing and reduce operational risks associated with the manual processing of allocations and confirmations. Fidessa's hosting centres support nearly 70 European banks and brokerage firms. The rationalisation of customer connectivity in this way means that Omgeo OASYS Global connectivity is available to them at the "flick of a switch".
Trevor Brown, Head of European Marketing, Hosted Services, Fidessa, added: "We're delighted to be working with Omgeo to provide this service for our users. By managing the connectivity ourselves we are able to deliver the benefits of scalability which leverages real-time connectivity to Omgeo OASYS Global across a robust and reliable infrastructure. This gives our customers the ability to provide an improved level of service to their clients."PDF (0.07 MB)