Skandinaviska Enskilda Banken is to offer direct access dealing in the Nordic financial markets over the Fidessa network from UK vendor royalblue.
Royalblue says the agreement will enable users of the Fidessa platform to route DMA and care order flow through SEB Enskilda Equities, and take advantage of the Swedish bank's "dominant position within execution as well as clearing and settlement in the Nordic markets".
SEB Enskilda Equities holds a market share of more than 10% in the Nordic region and offers multi asset classes and membership in the major cash and derivatives markets.
Fidessa users are able to execute cash equities and CFDs across 20 European markets including Sweden, Denmark, Norway and Finland as well as Xetra, Euronext, LSE and Virt-X.
Commenting on the move, Simon McDowell, director of execution services at Fidessa, says: "This underlines our commitment to add regional specialists with local expertise as well as tier-one brokers with global reach.
"Our strategy is to provide our users with the greatest possible choice of trading venues which is inline with the forthcoming MiFID regulations on best execution."
Robert Anderson, responsible for DMA at SEB Enskilda Equities, says the Fidessa alliance "opens up a whole new market of over 9300 users for us to tap into and offer our local expertise".
SEB joins some 170 financial firms on Fidessa's global connectivity network which includes Barclays, Bear Stearns, Cheuvreux, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, Lehmans, Merrill Lynch, Morgan Stanley and UBS.