Fidessa signs Susquehanna Financial Group as latest managed enterprise client
New York, June 21, 2011 – Fidessa group plc (LSE: FDSA), provider of high-performance trading, investment management and information solutions for the world’s financial community, has today announced that Susquehanna Financial Group, LLLP (SFG), the institutional broker-dealer member of the Susquehanna International Group of Companies (SIG), has selected the Fidessa sell-side trading platform to support its institutional equity trading desk. SFG will deploy the trading platform through the managed enterprise delivery model, which combines the flexibility of an enterprise installation, using Fidessa’s expert consultants to customize the system to accommodate SFG's specific workflow, with the benefits of leveraging Fidessa’s fully hosted facilities management.
The Fidessa trading platform will be rolled out to a number of users across multiple US locations. It comprises a core order management system, which incorporates comprehensive STP for middle-office flows and back-office interfaces. SFG will also benefit from additional capabilities that include advanced trading tools for basket and algorithmic trading, as well as client profitability tracking. The Fidessa platform will be fully integrated with numerous in-house and third-party systems used across SFG and SIG.
Justin Llewellyn-Jones, chief operating officer of Fidessa US, added: “The managed enterprise operating model was launched to enable us to focus on delivering a customized solution to customers like SFG, whether they operate Fidessa software at their own site or take advantage of the efficiencies offered by our facilities management. The model allows firms to use our leading technology while reducing their total cost of ownership without sacrificing any of the flexibility that they may require. This client win demonstrates again the attractive nature of this delivery option, and we are delighted to add SFG to the growing number of companies in the US and Europe that have opted for the managed enterprise model.”
Fidessa serves one of the world's largest and most diverse trading communities, linking more than 2,400 buy-side institutions to more than 600 brokers and 150 markets across EMEA, Asia Pacific and the Americas. The Fidessa network now carries executed order flow of around US$800 billion each month.
About Susquehanna Financial Group, LLLP
Susquehanna Financial Group, LLLP (SFG), a member of the Susquehanna International Group of Companies (SIG), is an innovator in global finance, servicing the needs of clients worldwide in the areas of sales, fundamental research, and market intelligence. Building upon SIG's command of the options marketplace and its quantitative trading capabilities, SFG has cultivated a robust service offering that provides liquidity, industry-leading insights, and execution services. SIG employs approximately 1,500 individuals located in North America, Europe, Asia, and Australia. For additional information, please visit www.sig.com.