Pipeline partnership offers optimized execution performance
London, 28th January, 2008 Fidessa LatentZero, one of the world's leading providers of front-office software to the buy-side, has partnered with Pipeline Trading Systems LLC to enable clients of its order and execution management system (OEMS), Minerva, to realize institutional trading efficiencies, without risking blotter information leakage.
Pipeline empowers traders to secure large block liquidity while lowering impact costs at the same time. Recently, the Pipeline Block Market has traded over 50 million shares per day with average trade sizes peaking over 60,000 shares. Pipeline maintains a hidden book of large, executable limit orders with strict price-time priority, and facilitates the interaction between natural buyers and sellers in a predator-proof environment.
The new partnership with Fidessa LatentZero enables traders to send orders to Pipeline directly from the Minerva OEMS blotter with single-click efficiency. The buy-side maintains complete control over their order submissions, while retaining the ability to join large block trading opportunities matching stocks in their blotter. This increases workflow efficiency, safeguards against trading errors, and provides traders with multiple sources of liquidity enabling them to optimize execution performance.
Chris Gregory, Head of Connectivity Services at Fidessa LatentZero said: "As trade volumes have increased, fill sizes have tended to go down correspondingly. This has made it increasingly difficult for traders and dealers with large block trades on their hands to find pools of liquidity without breaking up the order. The Pipeline/Minerva integration provides traders with added security by totally preventing blotter content detection. The partnership with Pipeline gives our clients greater choice of execution strategy, and in turn enhances their ability to deliver best execution to their clients. It is one of a series of partnerships that we have developed that enhance the connectivity features of our award-winning OEMS, Minerva."
Fred Federspiel, President of Pipeline commented: "The partnership with Fidessa LatentZero provides traders with a remarkably easy and powerful tool to incorporate Pipeline's Mega-Block liquidity into all large-block execution strategies. The simplicity and power of this integration can only lead to higher fill rates and lower market impact costs."
About Fidessa group
Fidessa group is a world-leading supplier of multi-asset trading, portfolio analysis, decision support, investment compliance, market data and global connectivity solutions for both the buy-side and sell-side globally. Available as a simple workstation or as an integrated application suite, the Fidessa and Fidessa LatentZero product suites are built on the clear vision of providing the richest functionality, coverage and distribution to the financial markets community.
The Fidessa suite is used by 85% of tier-one, global equity brokers providing sophisticated trading, market data, order management and execution capabilities to all tiers of the sell-side.
The Fidessa LatentZero suite is used by the world's largest asset management firms through to smaller specialist managers and hedge funds, and provides comprehensive portfolio analysis, real-time P&L, what-if analysis, investment compliance, order and execution management, and post trade processing tools, across all asset classes, to all tiers of the buy-side.
Fidessa's global network carries over 95 million messages a month covering DMA, Care and Algorithmic orders, Indications of Interest and FIX Allocations between around 1,500 buy-sides and 255 brokers across 92 exchanges worldwide.
Head-quartered in London and with offices in New York, Boston, Tokyo, Hong Kong, Paris, Toronto and San Francisco, Fidessa group serves around 22,000 users across 520 clients globally. Fidessa group was founded in 1981, has revenues of $270m, employs over 1,100 people and has been fully listed (LSE:FDSA) since 1997.
+44 (0) 20 7105 1215
Aspectus PR (PR Agency)
+44 (0) 20 7487 8443