Fidessa expands coverage with new London equity market
London, 12 December 2005 - royalblue (LSE:RYB), provider of Fidessa, today announced that it has extended its coverage to include PLUS, the new London equity market service from PLUS Markets Group plc. Fidessa now provides direct electronic access and full market data content for PLUS, which was officially launched on 5 December.
The PLUS service is a quote-driven system providing alternative quotes to a number of stocks, some of them also traded on the London Stock Exchange (LSE). Both listed and unlisted securities are eligible for admission to PLUS. At launch, a selection of smaller companies including the FTSE Small Cap are available for trading with others set to follow in the near future.
New releases of the Fidessa trading platform and Workstation incorporate displays enabling users to monitor prices and liquidity on multiple execution venues for individual listings. For example, users can now view a combined display of 'time and sales' data regardless of the market used for execution or trade reporting. By introducing these new features, Fidessa allows its users a quick and easy way to compare information from these disparate venues and thus support customers in achieving best execution for their clients. Users of the Fidessa trading platform are also provided with comprehensive market-making and trade reporting facilities for PLUS service.
Simon Barnby, head of Fidessa Workstation strategy, comments: "As traditional trading patterns are continually challenged, Fidessa is quick to embrace change and give new opportunities to trading professionals to be one step ahead of the competition. With our new product release we enable interested customers to take full advantage of this new market initiative, helping them achieve best execution for their clients."
The Fidessa development team have worked on this release for the past three months to ensure that the new features are ready for the PLUS service launch. Fidessa is committed to R&D and made it to the top 30 (ahead of any UK competition) of the software and computer services category, in a ranking that listed 750 UK companies by R&D investment within the UK published by the Department of Trade and Industry (Financial Times, 24 October 2005).
Barnby adds: "At Fidessa we take pride in our pedigree technology and constantly invest in the development of our trading platform to ensure that it has the flexibility and functionality to respond to the most sophisticated user needs."
The Fidessa product suite provides integrated trading, market data and connectivity to over 500 buy-side institutions, 110 brokers and 22 exchanges. Fidessa is used by over 8,000 users at around 200 institutions worldwide.