System to provide a fully managed, multi-asset workflow solution for 100+ markets worldwide
LONDON, UNITED KINGDOM and CHICAGO, IL–(Marketwire/AsiaNet Pakistan – July 25, 2012) – Fidessa group plc (LSE:FDSA), provider of high-performance trading, investment management and information solutions for the world’s financial community, today announced that Newedge, one of the leading forces in multi-asset execution globally, has selected the Fidessa trading platform and order management system for its global derivatives and equity trading business.
The first phase of this project, covering trading hubs in London and Chicago, is now live. Subsequent phases will see the platform rolled out across other hubs in Asia this year. The platform will provide Newedge with a multi-asset trading workflow solution across their front and middle-office operations – incorporating global order management, access to Newedge trading algorithms, FIX connectivity and smart order routing tools. Fidessa will also supply comprehensive, global market data as part of the deal, as well as low-latency gateways to access over 100 derivatives and cash equity markets. Fixed Income will be added to the platform in 2013. This distributed solution has been fully outsourced to Fidessa, leveraging their proven track record in servicing tier one financial institutions.
Nicholas Garrow, Global Head of eSolutions at Newedge, commented: “We are extremely excited to be working with Fidessa to deliver a world class execution platform which will underpin the growth of our equities, futures and options business globally. Fidessa’s sophisticated multi-asset workflow offering – including an integrated, multi-asset algorithmic trading engine and centralised pre-trade risk and monitoring tools – will play an integral role to deliver next-generation capabilities to our global clients spanning all asset classes.”
Stephen Barrow, Global Sales Director at Fidessa, added: “Newedge is one of the premier multi-asset brokerage firms in the world and we are very proud to be working with them. We believe that the firms that can harness the regulatory momentum that is bringing together the worlds of OTC and exchange-traded derivatives will have a significant competitive advantage. Newedge and Fidessa share the same vision as to how this can be achieved through smarter workflow, integrated risk management and compliance, and streamlined execution. In addition, our global deployment, hosting and support capabilities mean that we can provide Newedge with substantial operational efficiencies as the firm leverages the new landscape, both now and in the future.”
Fidessa’s award-winning multi-asset trading solutions serve over 27,000 users across 950 clients around the world. The Fidessa connectivity network carries over $10 trillion of order flow per year and connects 2,900 buy-sides to 700 brokers covering 200 markets globally.
Newedge, a 50/50 joint venture between Société Générale and Crédit Agricole CIB, is a major force in global multi-asset brokerage business, with a world-leading position in the execution and clearing of listed derivative products. With a presence in more than 20 locations in 16 countries, Newedge offers a full range of clearing and execution services covering options and futures contracts for financial products and commodities, as well as for money market instruments, bonds, FX, equities, and commodities on OTC markets. Newedge provides a range of value added services, including prime brokerage, asset financing, an electronic platform for trading and order routing, cross margining, and the centralized reporting of client portfolios. Newedge, which primarily serves institutional clients, provides access to more than 85 exchanges. Newedge’s 3,000+ employees form a close-knit, multinational team that can innovatively respond to its clients in fast-moving markets. For more information, visit www.newedge.com.
About Fidessa group
Exceptional trading, investment and information solutions for the world’s financial community.
New technology, new regulation, new challenges: making money in today’s financial markets is all about staying ahead of the curve. Having the capability to spot new trends and act fast turns change into opportunity. That’s why 85% of the world’s premier financial institutions trust Fidessa to provide them with their multi-asset trading and investment infrastructure, their market data and analysis, and their decision making and workflow technology. It’s also why $10 trillion worth of transactions flow across our global network each year. Because we’re the market leader, we can also offer unique access to the world’s largest and most valuable trading community of buy-side and sell-side professionals, from global institutions and investment banks to boutique brokers and niche hedge funds.
Fidessa is a global business with scale, resilience, ambition and expertise. We’ve delivered around 30% compound growth since our stock market listing in 1997 and we’re recognised as the thought leader in our space. We set the benchmark with our unrivalled set of mission-critical products and services and, uniquely, serve both the buy-side and sell-side communities. Ongoing investment in our leading-edge, integrated solutions ensures Fidessa remains the industry’s number one choice.
Fidessa® is a registered trademark of Fidessa group plc.
All product and company names herein may be trademarks of their registered owners.
“Newedge” refers to Newedge Group SA and all of its worldwide branches and subsidiaries. Newedge Group in France and its foreign branches are authorized by the Autorité de Contrôle Prudentiel and Autorité des Marchés Financiers in France. Newedge UK Financial Limited is authorized and regulated by the Financial Services Authority. Newedge Group (Frankfurt, Zurich, Geneva and Dubai branches) and Newedge UK Financial Limited do not deal with, or for, Retail Clients (as defined under MiFID, FSA rules and Dubai Financial Services Authority). Only Newedge USA, LLC is a member of FINRA and SIPC (SIPC only pertains to securities-related transactions and positions). Only Newedge Canada Inc. is a member of the Canadian Investor Protection Fund. Not all products or services are available from all Newedge organizations or personnel.”
“All information, prices or projections are subject to change without notice. Some financial products and investments are subject to fluctuations in price and or value and investors may get back less than originally invested. Futures and options, as well as certain other financial instruments, are speculative products and the risk of loss can be substantial. Consequently, only risk capital should be used to trade futures and options and other speculative products. Investors should fully understand the risks and potential losses and seek their own independent investment and trading advice having regard to their objectives, financial situation and needs. This information is not intended to be construed as investment advice.