Fidessa group plc
| Fidessa | |
| |
| Founded | 1981 |
|---|---|
| Headquarters | 1 Old Jewry, London EC2R 8DN, UK
|
| Key People | Chris Aspinwall, Chief Executive John Hamer, Chairman |
| Employees | 1,700 |
| Products | Independent software vendor |
| @Fidessa | |
| Profile | |
| Website | www.fidessa.com |
| Releases | Company News |
Fidessa is a provider of trading, investment and information infrastructure and technology for the global financial community. It is owned by ION Group.
The firm agreed to a takeover bid in April 2018 by ION Group for $2.09 billion,(£1.5 billion), rejecting an earlier offer by Swiss banking software company Temenos Group AG in Feburary 2018.[1] [2][3][4]
The company serves 24,500 users across more than 900 clients, and about $1.5 trillion in orders flows through its global network each month. The network connects to more than 5,100 buy-side customers and 730 brokers across more than 215 markets.[5][6][7]
Headquartered in London, Fidessa also has offices in New York, Boston, Tokyo, Hong Kong, Mumbai, London, Woking in the UK, Paris, Toronto, San Francisco, Belfast, São Paulo, Chicago and Sydney.[8]
History[edit]
Founded in 1981 as Intercom Data Systems (IDS), the company was later renamed royalblue Group plc, and consisted of two separate operating divisions, royalblue Financial and royalblue Technologies. royalblue Financial concentrated on the financial trading platform that has become Fidessa today. Royalblue Technologies centered around two separate products - rostrvm, a call center technology platform, and HelpDesk for Windows.[9] The company has been listed on the London Stock Exchange since 1997.[10] In 2001 the company divested itself of the technologies division and focused entirely on the financial business.
Because the group's core trading platform, Fidessa, was better known in the marketplace, royalblue Group plc changed its name to Fidessa Group plc following shareholder approval in April 2007.[11] The name change took effect on May 1, 2007.
Also in 2007, the company acquired the privately owned buy-side trading provider "LatentZero Limited".[12] The LatentZero suite of products is now Fidessa's complete investment management front office suite for institutional asset managers.
In December 2010, the company opened a new office in Singapore as part of their Asian expansion.[13] In the next two years, Fidessa continued to expand and open branches. In October 2011, Fidessa expanded in Australia; in November 2011, Sao Paolo was added; in March 2012, they opened a new office in Chicago to serve as base for global futures and options trading; in October 2012, they added a Mumbai office and datacenter.[14] [15] [16]
Products and Services[edit]
Buy-side
Fidessa's products and services for the buy-side include: compliance, decision support, order/execution management, trading, and portfolio management.[17]
Serving asset management firms through to smaller specialist boutique managers and hedge funds, Fidessa's front office investment solutions cover all asset classes and provide integrated, managed connectivity to global brokers and markets. Fidessa's systems also help clients to decide where, when and how to invest, as well as analyze their portfolio, track their P&L and execute and process their trades.
On July 2, 2014, Fidessa announced the next phase of its post-trade strategy with the launch of an affirmation management service (AMS) for the buy-side. The service is a new class of application that automates the workflow for direct trade affirmation between the buy-side and sell-side. It also complements Fidessa's existing sell-side community and its FIX-based Post-trade Hub launched in 2013.[18]
Sell-side
Fidessa's products and services for the sell-side include: order management, advanced trading tools, smart order routing, high frequency trading, compliance, business intelligence.[19]
Available as a custom enterprise or fully managed Software as a Service (SaaS) solution, Fidessa delivers order management and trading services to the global broker/dealer community. Combining order and execution work flow with a global FIX connectivity network, Fidessa supports all high, low and no-touch business flows, and scales to match their client's business growth. [20]
Enterprise Solution
- Custom built per client offering
- Solutions for specialist execution (e.g. DMA)
- Packaged services for connectivity and market data
- Available as a Fidessa managed enterprise service or for independent operation
- Global professional services and support teams
SaaS Platform
- Hosted & managed trading systems
- Capabilities supporting tens of thousands of users globally
- Fully integrated work flow, market data and connectivity
- Support and operations resource
- Solutions for Europe, U.S., Canada, Japan and Asia
Alliance News
On September 3, 2014, Fidessa announced it had expanded the service it offers its UK broker clients with the addition of Alliance News, a journalistic news service targeted at UK companies, investors and their advisors. The service covers all UK listed companies as well as providing general, global economic content.[21]
Connectivity
Fidessa provides a comprehensive suite of connectivity solutions for the global trading community. Fidessa provides FIX network connectivity to over 3,600 counterparties in global markets. The firm announced in November 2011, the launch of a new FIX Protocal connectivity service that allows users to integrate, control and monitor all FIX messages and connectivity points across multiple trading applications.[22]
Technology
In June of 2015 Fidessa announced the launch of a new low-latency direct market access (DMA) platform built on Fidessa's most up-to-date technology and delivered as a managed service. The platform is intended to help firms reduce cost and improve efficiency by outsourcing the commoditized aspects of their market access infrastructure. It is the first service to emerge from Fidessa’s electronic execution business, headed by David Polen, Fidessa's global head of electronic execution.[23]
Key People[edit]
- John Hamer, Chairman
- Chris Aspinwall, CEO
- Richard Longdon, Senior Independent Non-Executive Director
- Ron Mackintosh, Independent Non-Executive Director
- John Worby, Independent Non-Executive Director
- Ken Archer, Independent Non-executive Director
- Ishbel Macpherson, Independent Non-Executive Director
Revenues and Profits[edit]
| Year | Revenue (pounds) | Percent Change | Adjusted Operating Profit (pounds) | Percent Change |
| 2016 | 331,900,000 | 12% | 48,800,000 | 25% |
| 2015 | 295,500,000 | 7% | 39,500,000 | - |
| 2014 | 275,000,000 | (-)1% | 39,500,000 | (-)5% |
| 2013 | 279,000,000 | 0% | 41,600,000 | (-)2% |
| 2012 | 278,600,000 | 0% | 42,400,000 | (-)1% |
| 2011 | 278,300,000 | 6% | 42,900,000 | 8% |
| 2010 | 262,300,000 | 10% | 39,800,000 | 11% |
| 2009 | 238,500,000 | 26% | 36,000,000 | 34% |
| 2008 | 189,100,000 | 40% | 26,800,000 | 46% |
John Lothian News Interviews[edit]
Vision Statement: Fidessa Looking At Realtime and Predictive Analytics and Cybersecurity
The financial technology space is always moving and aiming at moving targets. Justin Llewellyn-Jones, COO and global head of derivatives for Fidessa, said firms now are facing broader and deeper technology challenges than ever, from real time order analytics to new cyber security needs.
Best of Both Worlds: Fidessa’s Steve Grob on Keeping Tech Costs Low
With rapid changes in the financial industry, firms are challenged to keep their technology robust and resilient while at the same time being secure and compliant, says Steve Grob, director of group strategy for Fidessa, a London-based ISV that serves both the buy side and sell side.
The Case for the Defense: Steve Grob Says the World Needs the Financial Markets
Financial markets have taken a beating by legislators, regulators and in the press over the past several years. But Steve Grob of director of group strategy for Fidessa Group, says that much of the criticism is unfounded. Jim Kharouf, editor-in-chief of John Lothian News, spoke with him about his defense of the financial industry.
It’s Easier This Way: Justin Llewellyn-Jones of Fidessa Maps A Compliance Path for Firms
Today, firms are dealing with three major issues: regulation, compliance and global economics. None of the three are friendly to brokers and trading firms, and that’s where Justin Llewellyn-Jones, chief operating officer of Fidessa, believes there is opportunity.
Justin Llewellyn-Jones of Fidessa Talks ISVs, Regulation & Technology
Justin Llewellyn-Jones, chief operating officer of Fidessa, thinks globally and well, acts globally too. Llewellyn-Jones spoke with JLN editor-in-chief Jim Kharouf about how Fidessa is adapting to the new global marketplace and the demand for multi-asset class platforms and networks.
- Fidessa's Fragulator Provides Insight Into Global Regulatory Initiatives
- Five Minutes with Dan Smalley
Videos[edit]
- Fragvision Episode 18: Facing off to Big Data
- Fragvision Episode 17: An eye on the new normal
- Fragvision Episode 16: Build vs Buy becomes Rent vs Collaborate
- Fragvision Episode 15: How was it for you
- Fragvision Episode 14: Maybe markets are unfair but are they rigged
- Fragvision Episode 13: Alpha innovation required
- Fragvision Episode 12: Ready, SEF, go
- Fragvision Episode 11: Why the big exchanges need to visit Amsterdam
- Fragvision Episode 10: All set for a clear summer
- Fragvision Episode 9: A question of life and SEF
- Fragvision Episode 8: “It’s fragmentation, Jim, but not as we know it” – why Dodd-Frank won’t work
- Fragvision Episode 7: In defence of derivatives
- Fragvision Episode 6: A night at the museum
- Fragvision Episode 5: The changing face of Asian markets
- Fragvision Episode 4: The R word
- Fragvision Episode 3: Best execution: fact or fiction?
- Fragvision Episode 2: Feeding frenzy
- Fragvision Episode 1: Welcome to FragVision
Blogs[edit]
References[edit]
- ↑ Fidessa scramps Temenos deal and agrees to takeover by Ion. Reuters.
- ↑ About Fidessa. Fidessa.
- ↑ Bidding war erupts over Fidessa acquisition. The Trade.
- ↑ Ion Investment Group agrees £1.5bn deal to buy Fidessa. Irish Times.
- ↑ Fidessa About Us. Fidessa.
- ↑ Fidessa's equities trading platform wins award for innovation. Fidessa.
- ↑ Fidessa 2014 Annual Report and Accounts. Fidessa.
- ↑ Fidessa Worldwide Offices. Fidessa.
- ↑ royalblue group plc Final Results. Fidessa.
- ↑ Royalblue to change name. Fidessa.
- ↑ Relationship between Fidessa and royalblue. Fidessa.
- ↑ Royalblue to acquire Latentzero. Fidessa.
- ↑ Fidessa Expands in Asia. Fidessa.
- ↑ Fidessa Expands Australian operations. Fidessa.
- ↑ Fidessa Opens Chicago Office for Global Trading. Waterstechnology.
- ↑ Fidessa expands Asian footprint with Mumbai base. Fidessa.
- ↑ Buy-side Solutions. Fidessa.
- ↑ Fidessa launches new affirmation service for the buy side. Press release via Mondovisione.
- ↑ Sell-side. Fidessa.
- ↑ Connectivity Network and Management. Fidessa.
- ↑ Fidessa Expands UK Service with Alliance News. MondoVisione.
- ↑ Connectivity Network and Management. Fidessa.
- ↑ Fidessa unveils new low-latency DMA platform. Fidessa.