Collins Stewart, a UK investment banking group, has successfully gone live with the full package of Fidessa’s Advanced Trading Tools, which includes List Management, Wave Trading, Pairs Trading and the BlueBox algorithmic trading engine.
Collins Stewart is Fidessa hosted client since 2004. New contract will give Collins Stewart access to industry-standard, out-of-the-box algorithms, including VWAP, TWAP, Arrival Price and Percentage of Volume.
Fidessa List Management and Wave Trading enable Collins Stewart to trade large mixed baskets while consolidating all trades and performance data in real time. Fidessa Pairs Trading is a set of trading strategies that takes advantage of merger and acquisition structures, and market inefficiencies, in order to obtain profit.
The Advanced Trading Tools software is currently used by three members of Collins Stewart’s execution team, allowing them to handle a far greater number of client orders than before.
“The complexity of today’s trading environment calls for highly automated, reliable and efficient execution, and the increasing use of algorithmic strategies,” says Peter Hall, head of IT and Operations, Collins Stewart.
“Fidessa’s Advanced Trading Tools, which are fully integrated with our existing Fidessa OMS, enable us to execute client orders faster with minimal manual intervention, providing our customers with best execution, as required under MiFID.
“Thanks to Fidessa’s Advanced Trading Tools, we have increased trader productivity significantly, which has already enabled us to generate new client business.”
“Providing high performance, low-latency market data and global exchange connectivity, our Advanced Trading Tools are an easy-to-deploy, cost-effective solution that enables brokers to enter the algorithmic trading space, increase their order flow and demonstrate performance,” says Julian Garcia-Santos, head of Client Marketing for Hosted Services, Fidessa, Europe.
L.D.