UK trading technology vendor royalblue has added a multi-broker, order routing system designed for buy-side clients to its Fidessa workstation.
The service provides buy-side users with direct access to brokers available on the Fidessa global connectivity network.
The system supports single order entry for European equities to direct market access (DMA) brokers, agency brokers and algorithmic trading services. Royalblue says Asian and US equities and basket trading support will be available shortly.
Simon Barnby, business development manager for Fidessa, says: "The buy-side is crying out for a range of sophisticated execution tools that have been common place in the sell-side for years...With Fidessa's unrivalled sell-side client base available on our global network, we are ideally placed to provide consistent order routing to all brokers."
The service is available via a front-end incorporating order management, real-time order status and full audit-trail facilities. Broker specific handling instructions are provided, with users only being presented with fields and options applicable to their chosen broker.
Barnby says basket management and wave trading modules will also be added to the service along with support for post-trade allocations.