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 successfully completed an upgrade of its interface between Minerva OEMS, part of its LatentZero product suite for the buy-side, and Omgeo Central Trade ManagerSM (Omgeo CTM).
The LatentZero platform is certified on the latest version of Omgeo CTM, which also includes Omgeo CTM for Broker/Dealers and Omgeo ALERT 2.0. One of the fundamental rationales for the upgrade is the expansion of asset classes available in the latest release of Omgeo CTM, including the capability to support futures and options in addition to the previously supported equities and fixed income. This is also a big advancement to the way Minerva OEMS users interact with the sell-side.
The Omgeo CTM interface within Minerva OEMS enables executions to be sent to Omgeo CTM and for the matched trades to be sent back into Minerva for order management; the buy-side can now match everything that broker/dealers using Omgeo CTM receive. The upgrade also includes a range of functionality improvements, including support for settlement instructions, both on market and client executions, enhanced support for step-outs and directed commission, and improved functionality for settlements and matching instructions for those employing a prime account structure.
This upgrade of the Minerva OEMS and Omgeo CTM interface opens up a host of new functionality for Minerva users, says Chris Gregory, head of buy-side connectivity services at Fidessa. Upgrading the system also gave us the opportunity to revisit the core architecture, and update and improve it to make it more robust. One of the areas where that work is most evident is in the new testing structure: clients can now include their unique workflow in our continuous automated testing, which offers an ongoing overnight maintenance service and an added level of reassurance.
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