Fidessa takes the prize for innovation at the Global Grain awards
Fourth award this year recognising the firm's capabilities in commodity markets
16th November 2017 - Fidessa group plc (LSE: FDSA) today announced that it has been presented with the 2017 Global Grain Award for Innovation. Recognising best practice and operational excellence in the global grain & oilseeds market, the award was presented at a gala dinner in Geneva on 14th November.
In winning the award Fidessa was recognised for its commitment to help commodity market participants better understand their trading positions, mitigate risk and increase returns. In particular, Fidessa's new Hedge Management Technology (HMT) was singled out for its innovative approach to the hedging requirements of commodity firms. Fidessa's HMT allows these firms to match their orders internally, across multiple trading hubs, thereby reducing the risks of self-matching on exchange and, crucially, make substantial savings on exchange fees.
The award also recognised the scalability of Fidessa's platform and its ability to bring down the considerable operational overhead for large and smaller commodity firms alike by consolidating their multiple disparate front ends and legacy middle office technology on one state-of-the-art platform.
Paul Dex, Head of Commodities Business Development for Fidessa, commented: "We are committed to developing innovative solutions that allow commodity firms to focus on what they do best. It is gratifying to receive this award which validates those efforts and recognises the value that Fidessa is delivering for commodity market participants around the globe."
Fidessa supports over 900 clients around the world and its network provides connectivity between more than 6,300 buy-side and sell-side firms, carrying trade flow with a value of US$26 trillion annually.
This latest award is the tenth for Fidessa's platform in 2017 and the fourth this year to specifically recognise Fidessa's achievements in the commodities space.