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 announced that the enhanced program trading functionality of its EMS Workstation is live. The new features will allow users to manage lists or programs of orders through one flexible trading blotter.
The EMS Workstation is an internet-deployed, broker-neutral low-latency trading platform for equities and equity derivatives. It is available as a standalone workstation, as a staged solution from any OMS or order source through FIX, or as part of Fidessa LatentZeros Minerva OEMS. The workstation is a truly global offering, providing out-of-the-box access to more than 120 execution venues and over 400 brokers worldwide. It offers integrated access to algorithms from more than 40 brokers, and TCA is incorporated from Barclays, Citigroup, Credit Suisse, Deutsche, Nomura, and UBS. Global market data and news is fed in from Fidessas high-performance ticker plants. Due to its broker neutrality, clients have complete control over which brokers they trade with, enabling them to diversify and reduce risk by managing their own execution strategy.
With the new tools, programs can be sliced off to any trading destination, which may include Care, DMA, Algorithms or dedicated program desks. When slicing waves of market orders from the program, the waves can be viewed as single entities on the market order blotter with all of the underlying market orders grouped below, according to multiple criteria including country, region and %ADV. Users can easily monitor the progress of the individual waves and any error conditions. In addition, the program, wave and single orders are all benchmarked so that the relevant P&L of the wave can be measured in real time.
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