Fidessa group plc

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Fidessa
Image:Fidessa.gif
Founded 1981
Headquarters London
Key People John Hamer, Chairman; Chris Aspinwall, Chief Executive
Employees 1,400
Products Independent software vendor
Web site http://www.fidessa.com

Fidessa is a vendor that specializes in multi-asset trading, portfolio analysis, decision support, compliance, market data and global connectivity for the buy side and sell side. According to Fidessa, its products are used by 85 percent of tier-one, global equity brokers, the world’s largest asset management firms to smaller specialist managers and hedge funds.[1]

Besides its headquarters in London, it has offices in New York, Boston, Tokyo, Hong Kong, Paris, Toronto, San Francisco and the Kingdom of Bahrain. Fidessa group serves around 24,000 users across 730 clients globally.

Contents

History

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Fidessa group was founded in 1981, has revenues of $270 million, employs more than 1,400 people and has been fully listed on the London Stock Exchange since 1997. The company’s former name was Royalblue group plc.

Products and Services

Fidessa offers a range of services including a multi-asset sell-side trading platform[2], multi-asset buy-side order management and execution[3], a Global FIX connectivity network[4] and global market data services, portfolio management and decision support as well as risk and compliance management solutions.[5]

Connectivity

In March of 2009, Fidessa announced the launch of round-the-clock trading for its global trading service. Fidessa’s global trading service is a fully integrated international trading service available within its U.S. hosted trading platform.[6]

In January of 2010, Fidessa expanded their global connectivity network for nine brokerage firms to offer US options execution services including; Ballista Securities, Barclays Capital, BofA Merrill Lynch, Citi, LiquidPoint, Credit Suisse, Goldman Sachs, OnPoint Executions and Penson Financial Services Ltd..[7]

On June 29, 2010, Bulltick Capital Markets, a capital markets firm in Latin America, joined the Fidessa connectivity network which will allow Bulltick to provide an increased range of Latin American trading and execution services to Fidessa's global user trade flow and volume into these markets. [8]

On July 12, 2010, NCB Capital (NCBC), an investment company and asset manager in Saudi Arabia, selected Fidessa's sell-side trading platform to support it's retail and institutional client operations on the Saudi stock market as well as it's global trading activities. With over one million retail customers, NCBC is Fidessa's largest client in the Middle East. [9]

On September 1, Fidessa announced that Oslo-based RS Platou Markets chose Fidessa to provide connectivity to a variety of MTFs. [10]

Partnerships

In April of 2009, Baikal, the London Stock Exchange’s planned pan-European dark pool multilateral trading facility (MTF) and liquidity aggregation service, announced it had partnered with Fidessa.[11]

In March of 2010, Fidessa announced a partnership with FINCAD, an analytics provider, that would enable users to value all fixed income and derivatives instruments through the LatentZero platform.[12]

Awards

In February 2009, the Fidessa Fragmentation Index (FFI) was rewarded as part of the Finextra Innovation Showcase 2009, which highlights innovative financial services products, technologies and projects that have emerged over the year. The FFI provides a measure for stock/market fragmentation that applies equally across established exchanges and the new alternative venues.[13]

In September of 2009, Fidessa's platform won Best Trading System for the sell-side and the Fidessa LatentZero suite won Best Trading System for the buy-side at the Financial News seventh annual 'Awards for Excellence in IT Trading and Technology'.[14]

Also, Fidessa LatentZero's compliance module Sentinel took home Product of the Year at the Buy-Side Technology Awards and was named best buy-side compliance product for the second year in a row, in November 2009. [15]

On April 20, 2010, Fidessa announced that they had been named the best sell-side trading platform in the Asian Banker Markets and Exchanges awards 2010. [16]

Recent News

On April 28, 2010, Fidessa announced the appointment of Dan Smalley as Head of Enterprise Business Development in the US. [17]

In July of 2010, after the Dubai Financial Market's acquired two thirds of the shares of NASDAQ Dubai from NASDAQ OMX and Borse Dubai, NASDAQ Dubai outsourced trading its listed equities to DFM's X-Stream technology platform which went live on July 11. Fidessa worked with exchanges to ensure that their trading system was fully compliant. Fidessa announced on July 12, that a number of its clients deployed the Fidessa sell-side order management system to trade NASDAQ Dubai equities on the new trading platform from the day it went live. [18]

On July 19, 2010, Fidessa appointed Robert Thompson as President of its North American buy-side operations, encompassing the LatentZero front office suite. [19]

On July 29, 2010, Fidessa announced global FIX network connectivity to SBI Japannext Securities, a Japanese Proprietary Trading System. Japannext PTS, as they are known, will now be able to provide onshore and offshore trading communities with easier access to the PTS liquidity pool. [20] Fidessa pushed forward with Japanese expansion efforts on August 19 when they announced it's FIX network's connectivity to Chi-X Japan. [21] Furthering their initiatives, Fidessa announced Tokai Tokyo Securities, a Japanese broker located in Nagoya, selected Fidessa's Software as a Service (SaaS) trading platform as their new trading system for cash equities and derivatives. [22]

Key People

References

  1. ↑ "About Fidessa”. Fidessa. Retrieved on February 27, 2008.
  2. ↑ Sell-side Services. Fidessa. Retrieved on August 14, 2009.
  3. ↑ Buy-side Services. Fidessa. Retrieved on August 14, 2009.
  4. ↑ Global Connectivity. Fidessa. Retrieved on August 14, 2009.
  5. ↑ Fidessa Workstation. Fidessa. Retrieved on February 27, 2008.
  6. ↑ Fidessa Adds Around The Clock Trading. Fidessa. Retrieved on March 3, 2009.
  7. ↑ Fidessa expands network with nine new US options brokers. Fidessa. Retrieved on April 8, 2010.
  8. ↑ Bulltick Capital Markets Joins Fidessa's Global Connectivity Network. Fidessa. Retrieved on July 22, 2010.
  9. ↑ Partnership with NCB Capital strengthens Fidessa's MENA operations. Fidessa. Retrieved on July 22, 2010.
  10. ↑ RS Platou Markets selects Fidessa's sell-side trading platform. Fidessa website. Retrieved on September 1, 2010.
  11. ↑ Baikal announces key technology partners. Fidessa. Retrieved on April 21, 2009, 2009.
  12. ↑ Fidessa LatentZero furthers partnership with FINCAD to extend analytics provision. Fidessa. Retrieved on April 8, 2010.
  13. ↑ Fidessa Fragmentation Index recognised as major innovation. Fidessa. Retrieved on April 1, 2010.
  14. ↑ Fidessa group takes top accolades for its buy-side and sell-side platforms at Financial News awards. Fidessa website. Retrieved on April 8, 2010.
  15. ↑ Fidessa LatentZero’s Sentinel named Product of the Year at Buy-Side Technology Awards. Fidessa. Retrieved on April 8, 2010.
  16. ↑ Fidessa best sell-side trading platform in Asian Banker awards. Fidessa Website. Retrieved on April 21, 2010.
  17. ↑ Fidessa appoints Dan Smalley as Head of Enterprise Business Development in the US. Fidessa website. Retrieved on April 28, 2010.
  18. ↑ Fidessa clients trading on NASDAQ Dubai’s DFM platform from go-live. Fidessa. Retrieved on July 22, 2010.
  19. ↑ Fidessa Appoints Robert Thompson as President of North American buy-side operations. Fidessa. Retrieved on July 22, 2010.
  20. ↑ SBI Japannext securities joins Fidessa’s global network. Fidessa website. Retrieved on July 29, 2010.
  21. ↑ Fidessa provides access to Chi-X Japan. Automated Trader. Retrieved on August 19, 2010.
  22. ↑ Tokai Tokyo Securities selects Fidessa's Japanese trading platform. Fidessa website. Retrieved on August 24, 2010.
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