Thu, 07/02/2008 - 06:00
Fidessa group, a provider of trading systems, market data and global connectivity, has announced connectivity to NYSE MatchPoint, the recently-launched electronic block trading facility owned by the New York Stock Exchange.
NYSE MatchPoint is a portfolio-based, point-in-time electronic exchange that matches aggregated orders at pre-determined times with no market impact. Through the connectivity agreement, users of the Fidessa Trading Platform can access and trade securities listed on all major and regional US stock exchanges through NYSE MatchPoint.
The Fidessa Trading Platform combines electronic order and execution workflow with real-time multi-currency trading, position keeping and reporting along as well as integrated market data.
'Fidessa will serve an essential link to NYSE MatchPoint, which by creating a centralised, exchange-neutral matching environment, is designed to provide the optimal solution for portfolio and single order liquidity discovery,' says James G. Ross, a vice-president of NYSE MatchPoint.
Martin Hakker, vice-president of marketing at Fidessa, says: 'As the US trading landscape rapidly evolves with additional pools of dark liquidity, Fidessa is at the forefront of providing access to new trading venues such as NYSE MatchPoint. Fidessa is committed to providing the greatest choice of destinations for its clients to trade and to offer additional sources of liquidity within the marketplace as soon as they open.'
NYSE MatchPoint is an electronic equity-trading facility that matches aggregated orders at predetermined fixed times with prices that are derived from primary markets. It aims to lower transaction costs by providing a passive trading environment, no market impact, consolidated participation and liquidity, and complete control over order information. Participants are provided full anonymity throughout the order-entry and trade-execution process.
NYSE MatchPoint's business and technology facilities are designed to capture the existing benchmark matching business and to champion next-generation benchmark matching and call market innovations and developments, and accommodates both single block orders and large portfolios.
Fidessa group is a supplier of multi-asset trading, portfolio analysis, decision support, investment compliance, market data and global connectivity solutions for both buy-side and sell-side. Its Fidessa and Fidessa LatentZero products are available as a simple workstation or as an integrated application.
Fidessa is used by 85 per cent of tier-one, global equity brokers providing trading, market data, order management and execution capabilities to all tiers of the sell-side. Fidessa LatentZero is used by asset management firms, specialist managers and hedge funds to provide portfolio analysis, real-time P&L, what-if analysis, investment compliance, order and execution management, and post trade processing tools across all asset classes.
Fidessa's global network carries over 50 million messages a month covering DMA, Care and algorithmic orders, indications of interest and FIX allocations between over 1,300 buy-side firms and 230 brokers across 83 exchanges worldwide.
Headquartered in London with offices in New York, Boston, Tokyo, Hong Kong, Paris and Toronto, Fidessa serves over 16,000 users at around 500 clients globally. Fidessa was founded in 1981 and acquired LatentZero last year. Fidessa has revenues of USD250 and employs more than 1,000 people.
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