24 April 2014

Maxim Group rejoins Fidessa client base

03 December 2013  |  837 views  |  0 Source: Fidessa group plc

Fidessa group plc has today announced that US broker-dealer Maxim Group has rejoined its client base.

The firm has re-signed for Fidessa's fully-managed US trading platform to power its sales, market-making, options and international desks.

Bill Vitale, Managing Director, Equity Trading, at Maxim Group said: "We needed a solution that was far more sophisticated than our previous choice. Fidessa gives us basket trading functionality robust enough to avoid using third party brokers, plus a compliance module that allows intraday fixes to problems as they are flagged. A technology partner like Fidessa, with the know-how and infrastructure to support us now and in the future, is the key to weathering the constant change and capricious shifts that have become the marketplace norm."

Maxim will be using Fidessa's US trading platform to support varied and complex multi-asset workflows. Fidessa's sophisticated order management system (OMS) delivers seamless straight-through processing of orders from creation and routing to executions and confirmations. All of the features required for international trading, such as global parity, are fully integrated into the OMS, as are advanced trading tools for algorithmic and basket trading. Maxim also benefits from membership of Fidessa's connectivity network, which provides access to 3,600 buy-sides and 200 venues globally.

David Polen, Managing Director at Fidessa, added: "This move reinforces our position as a global vendor with the depth to support aggressive growth and the multi-asset capabilities to trade a wide range of geographically dispersed instruments. Intelligent multi-asset workflow - a fundamental requirement for many - is hardwired into our solution, and developing and supporting these systems has been our focus for three decades. This is why the global financial community trusts us to deliver their business-critical trading systems."

Fidessa's award-winning multi-asset trading solutions serve more than 25,000 users at 1,000 clients around the world across the buy- and sell-side.

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