Fidessa group plc, the provider of multi-asset class trading, portfolio analysis, compliance, market data and connectivity solutions for the buy-side and the sell-side globally, has launched LatentZero as a Service, its fully managed service for the buy-side front office.
LatentZero as a Service represents a unique proposition for the buy-side. It goes beyond standard hosted or ASP products by providing a fully managed end-to-end service, and enables asset managers of all sizes to access the best available products for compliance, order and execution management and decision support across all asset classes, with substantial reductions in the total cost of ownership. The SaaS model improves customer return on investment, as the implementation is quick, low risk, and at a lower and fixed cost.
Fidessa LatentZero provides day-to-day operations, data management and support services, enabling all customers to achieve the same Best Practice workflows, operational control, quality and efficiencies as the leading and traditionally larger firms in the industry. Until now, firm size and lack of IT infrastructure have been barriers to investing in comprehensive front office and compliance systems.
A monthly fee provides access to LatentZero as a Service, which covers full infrastructure management, encompassing hardware, software, hosting, market connectivity, training and upgrades, all underpinned by rigorous SLAs. The service also includes pre-built regulatory compliance rules for global markets, comprehensive market connectivity to over 400 brokers and ATSs and integration with customers back office systems. The service is delivered from dedicated and wholly owned hardware located in Fidessas eight data centres in North America, Europe, Asia and Japan. These fully hardened 24/7 data centres are the result of 10 years of significant investment by Fidessa, and provide mission critical solutions to many of the largest financial services firms in the world.
The Software as a Service model will become the dominant model for delivery of front office solutions to the buy-side over the next few years, says Richard Jones, CEO of Fidessa LatentZero. We have already experienced this with the sell-side area of our business where over 90% of our customers use SaaS for Fidessas trading platforms.
D.C.