Multi-asset brokerage firm Newedge will use the Fidessa trading platform and order management system for its derivatives and equity trading business.
The software provides a workflow solution for front- and middle-office operations, including incorporating global order management, access to Newedge trading algorithms, Financial Information eXchange (FIX) connectivity and smart order routing tools, as well as low-latency gateways to access more than 100 derivatives and cash equity markets. Fixed income will be added to the platform in 2013.
Already live in hubs in London and Chicago, the Fidessa-outsourced solution will be expanded to other hubs in Asia this year.
“We are extremely excited to be working with Fidessa to deliver a world class execution platform which will underpin the growth of our equities, futures and options business globally, says Nicholas Garrow, global head of eSolutions at Newedge.
Newedge and Fidessa share the same vision as to how this can be achieved through smarter workflow, integrated risk management and compliance, and streamlined execution. In addition, our global deployment, hosting and support capabilities mean that we can provide Newedge with substantial operational efficiencies as the firm leverages the new landscape, both now and in the future, says Stephen Barrow, global sales director at Fidessa.
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