Fidessa group plc, provider of the Fidessa and Fidessa LatentZero trading applications for the sell-side and buy-side, has five clients already signed for its fully hosted Canadian trading platform.
The Canadian hosted trading platform was launched in January 2007 and was developed to meet client demand for a hosted application based on the same robust and scalable foundations as Fidessas successful enterprise Canadian trading platform. The hosted platform combines electronic order and execution workflow along with real-time, multi-currency trading, position keeping and reporting.
The Fidessa platform provides intelligent navigation of Canadas increasingly fragmented capital markets system through its end-to-end trading applications and advanced trading tools that include: Pairs trading, list management and wave trading tools along with Fidessa BlueBox; Fidessas Algorithmic Management System (AMS) that is totally integrated within the Fidessa OMS.
“Canadas brokers are increasingly in need of smart routing and intelligent order and execution solutions as Canadas markets become more complex. The main driver for Fidessas success in Canada is based on that need. From order management and execution to market data, and middle and back office functionality, Fidessa is the only complete solution for trading in Canadian markets,” says Ron Lee, head, Fidessa Canada.
Its success has been fueled by Fidessas ability to develop and enhance the products functionality specifically for the Canadian market. Pairs trading is just one example of how Fidessa is filling a technology gap not previously filled by the incumbent suppliers in the region. Fidessa has also been actively connecting to additional Canadian displayed and dark liquidity sources as they appear.
Fidessa also offers brokers consolidated market data displays, a “point and shoot” capability that allows traders to hit multiple orders in multiple locations, and enhanced electronic order audit trails so traders can develop historical execution data for each exchange.
Fidessa provides firms with a single, robust trading platform that has been customised for the Canadian market, removing the need for multiple trading applications, which might result in slower executions and inferior prices.