Citi has selected Fidessa to deliver a workflow and trading platform for its global listed derivatives business.
The partnership will see Fidessa providing Citi with a global order management and distributed low-latency execution platform along with BlueBox, Fidessa’s integrated algorithmic trading engine. Fidessa will also deliver next-generation risk management functionality, comprehensive market data and a global order routing service.
Jerome Kemp, managing director and global head of Exchange Traded Derivatives at Citi, commented: “We went through an extensive evaluation and selection process, and chose Fidessa for their sophisticated, integrated workflow capabilities that operate across multiple asset classes, as well as for their reputation for offering the very highest levels of service and support.”
The new platform will be implemented in a number of phases, commencing later this year, and will be integrated with Citi’s own proprietary internal back-office business systems.
Stephen Barrow, global sales director at Fidessa, added: “We have invested significantly to move our assets forward, including the architecture and functionality of the Fidessa sell-side trading platform, as well as our operational know-how. This has enabled us to set a new benchmark with our fully managed, truly integrated, multi-asset global trading solution. This partnership is tangible validation of our focus and conviction in bringing Fidessa’s industrial-strength platform and precision- based delivery model to the derivatives marketplace.”
(JDC)