Jefferies International Limited has gone live with Fidessa Hosted platform as its primary equity trading system for the London and main European markets. Fidessa is also Jefferies’ primary real-time market data provider in the UK.
Fidessa replaced SunGard’s BRASS at Jefferies International Limited and now serves 18 users split between its London, Paris and New York offices.
As an agency and principal broker, Jefferies uses Fidessa for member trading and market making on the London Stock Exchange. Through Fidessa’s global connectivity network, Jefferies has electronic trading links to all main European markets. In addition Fidessa handles institutional inbound electronic order flow for the sales traders in London. The Fidessa platform enables Jefferies to trade on a principal basis in ADRs (US, Canadian and Australian) and be a Retail Service Provider (RSP) for LSE stocks. Fidessa is connected electronically to the Jefferies International internal order routing system, allowing for real-time STP processing of the trades. The whole implementation was achieved in a record time: four months from decision to live.
The Fidessa product suite provides integrated trading, market data and connectivity solutions to around 8,000 users at over 150 institutions around the globe.