Fidessa, provider of the Fidessa and Fidessa LatentZero trading solutions for the sell-side and buy-side, has announced that CA Cheuvreux, the European agency broker of Calyon Group and a subsidiary of Crédit Agricole, has expanded its algorithmic suite of strategies offered through the Fidessa LatentZero execution management service.
The new algorithms include the shadow algorithm, which uses sophisticated strategies to allow investors to follow a trading trend while hiding their intention from the market; the inline algorithm, which delivers an implementation shortfall by trading as much as possible while minimising market impact; and the summit runner, which helps buy-side customers avoid paying the spread by disguising orders behind liquidity providers.
'The further enhancement of our algorithmic trading offering underlines our commitment to continue to invest in and deliver the best suite of algorithmic strategies to our customers,' says Jerry Lees, head of alternative execution services at CA Cheuvreux. 'We are very pleased to partner with Fidessa whose business supports our objective of reaching buy-side and sell-side clients.'
Fidessa LatentZero users can now access CA Cheuvreux's additional strategies and execute on 22 markets in Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, the Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland, Turkey and the UK, as well as the recently launched alternative trading venue Chi-X.
'CA Cheuvreux's new algorithms deliver traders with superior execution capabilities in volatile markets, complementing its already diverse set of strategies available through our platform,' says Simon Barnby, director of global marketing communications at Fidessa. 'As markets evolve, our strategy is to continue to offer new and enhanced services to our growing number of buy-side clients.'
Fidessa LatentZero EMS is available as a stand-alone workstation or as a fully integrated order and execution management service. EMS Workstation is a hosted application service provider solution suitable for any buy-side organisation that requires broker-neutral execution capabilities, providing market data and trading functions with connectivity to brokers, algorithms and direct market access on global equity and listed derivatives markets.
Minerva OEMS expands the EMS Workstation by providing cross-asset class management, real-time P&L, portfolio slice and dice, what-if analysis, order creation and workflow management, all with integrated compliance.
CA Cheuvreux is a European full-service broker serving more than 1,100 of the world's top institutional investors and covering 720 European stocks from local offices in nine European countries as well as the United Arab Emirates, the US and Japan.
The firm provides made-to-measure execution solutions via a broad range of services, ranging from direct market access and algorithmic trading in European and North American markets to global programme trading and contracts for difference.
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 globally. Its Fidessa and Fidessa LatentZero products are available as a workstation or as an integrated application suite.
Fidessa is used by 85 per cent of tier-one global equity brokers providing trading, market data, order management and execution capabilities to the sell-side. LatentZero is used by asset managers and provides comprehensive 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 more than 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 with around 500 clients globally. Fidessa was founded in 1981 and acquired LatentZero earlier this year. Fidessa has revenues of USD250m, employs over 1,000 people and has been fully listed in London since 1997.