Fidessa group plc, provider of high-performance trading systems, market data and global connectivity for the buy-side and sell-side, announced that Geneva-based Pictet & Cie has joined its global connectivity network. Pictet is one of Switzerland’s largest private banks with assets under management and custody totalling CHF 376 billion (€282 billion/US$ 385 billion) as of September 2010.
By joining the Fidessa network, Pictet has gained access to one of the world’s most wide-reaching, stable and powerful trading networks, enabling it to extend its trading business by attracting international flow. At the same time, the deal cements the ability of Fidessa’s worldwide community of buy-sides and sell-sides to route Direct Market Access (DMA) flow to one of Europe’s most important financial hubs. The deal strengthens Pictet’s relationship with Fidessa and builds on its use of Fidessa’s front-end technologies at its US and Canadian locations.
Simon McDowell, managing director for connectivity at Fidessa, commented: “Switzerland is an important part of our wider efforts to expand and consolidate our presence across EMEA. Pictet is joining a growing community of Fidessa buy-side and sell-side customers in Switzerland, including EMS Workstation users, global connectivity network members and trading platform clients, who regard Fidessa as a key strategic partner for achieving their business goals.”
D.C.