Fidessa takes FINCAD from the buy-side to the sell-side
Bringing industry-standard options pricing and risk analytics to Fidessa’s trading platforms
New York, August 2, 2011 – Fidessa group plc (LSE: FDSA), provider of high-performance trading, investment management and information solutions for the world’s financial community, and FINCAD, the market leader for innovative derivatives solutions, have announced today that Fidessa has integrated FINCAD’s derivatives pricing library into its sell-side trading platforms, expanding on its success on the buy-side. This partnership will give sell-side firms access to industry-standard options pricing and associated risk analytics to enhance their benchmarking and multi-asset trading capabilities for global futures and US equity options.
The announcement marks the expansion of a thriving relationship with FINCAD, which has been in place since 2005 when FINCAD Analytics was first incorporated into Fidessa's LatentZero derivatives module for the buy-side. The relationship advanced again in 2010 when FINCAD’s pricing library was made available across the complete LatentZero buy-side suite to calculate prices, sensitivities and cash flows for derivatives, money market and other fixed income asset classes. The integration of FINCAD Analytics into the sell-side trading platforms is a direct result of the success of the existing partnership and will enable broker-dealers to better manage their derivative positions in all markets thanks to FINCAD’s transparency, comprehensive coverage, and extensive documentation.
Dan Smalley, Director of Business Development for Enterprise Services at Fidessa US, said: “We believe that having industry standard pricing for complex products in a global multi-asset environment is crucial, especially given the evolving market structure and regulatory changes within the derivatives space. Our long-term relationship with FINCAD has been an important element in the success of our multi-asset strategy on the buy-side, and we are delighted to be able to bring its high-quality, trusted analytics and risk statistics to the sell-side, as we extend the functionality for futures, options and swaps in the Fidessa trading platform. The depth of FINCAD’s coverage, the transparency of its analysis, and the comprehensive audit trail and reporting functionality it provides allows users to remain ahead of the game as Dodd-Frank and other regulations begin to have a real impact on the marketplace.”
“We’re excited about our partnership with Fidessa”, said Amar Budhiraja, Director of the FINCAD Alliance Program. “Fidessa offers world-class solutions to a very impressive client base. As a specialist provider of advanced derivatives analytics, FINCAD is pleased that Fidessa has chosen to extend this successful partnership by embedding FINCAD Analytics into its sell-side solution.”
Fidessa’s products serve 27,000 users across 950 clients around the world and are used by more than 85 percent of tier-one financial institutions. Fidessa's connectivity network is one of the world's largest and most diverse trading communities, linking 2,650 buy-side institutions and 650 brokers as well as more than 159 markets across EMEA, Asia Pacific and the Americas.
Founded in 1990, FINCAD provides advanced modelling solutions built on award-winning, patent pending technology. With more than 4,000 clients in over 80 countries around the world, FINCAD is the leading provider of financial analytics technology, enabling global market participants to make informed hedging and investment decisions. FINCAD provides software and services supporting the valuation, reporting and risk management of derivatives and fixed income portfolios to banks, corporate treasuries, hedge funds, asset management firms, audit firms, and governments. FINCAD Analytics can be accessed through Excel, MATLAB, as a Software-as-a-Service or embedded into an existing system through software development kits. Now, over 70 FINCAD Alliance Partners embed FINCAD Analytics within their solutions. FINCAD provides sales and client services from Dublin, Ireland, and Vancouver, Canada.PDF (0.04 MB)