Interdin becomes 60th broker on Fidessa’s global remote-broker network
London, 13 February 2006 - royalblue (LSE: RYB), supplier of Fidessa, today announced that Interdin, one of the leading equity brokers for the Spanish market, is the 60th broker to join Fidessa's global connectivity network. Interdin now provides Fidessa users with local expertise and trading access to the Spanish Stock Exchange.
Fidessa clients are able to route care order flow to Interdin and perform DMA trading directly on the Spanish market. Interdin currently trades about 5% of the total volume on the Spanish Stock Exchange and processes an average of 16,000 orders per day. Interdin offers execution in both liquid and illiquid stocks.
Interdin joins other brokerage houses on Fidessa's global order routing network including blue-chip brokers such as Cheuvreux, CSFB, Deutsche Bank, Goldman Sachs, HSBC, Lehmans, Merrill Lynch, Morgan Stanley and UBS providing execution services covering European and US markets.
Sofia Anton, head of equity of Interdin says: "As a prime, non-conflicting broker we pride ourselves in providing transparency and expertise in the Spanish market, ensuring best execution for our clients. Our relationship with Fidessa opens up a new community of over 8,000 users that can avail themselves to our services."
Simon Barnby, head of Fidessa strategy, adds: "We are delighted that Interdin has joined our network. We've signed up 60 receiving brokers in a year with many more in the pipeline. This gives our users coverage of a broad range of markets, a vast choice of execution venues and access to algorithmic and DMA trading capabilities."
Fidessa's remote broker network provides a fully normalised, highly resilient, broker-neutral solution for clients wishing to route order flow to a variety of sell-side destinations. Typical users of the network include both the buy-side and the sell-side requiring non-member trading facilities on numerous markets. Access to the Fidessa network is available via the Fidessa trading platform, the Fidessa Workstation or by direct FIX connectivity.
The Fidessa product suite provides trading, market data and connectivity solutions to over 8,000 users at 200 clients around the world.