royalblue (LSE: RYB), supplier of Fidessa, today announced that ADM Investor Services International Limited (ADMISI), the full service investment brokerage company has signed up for its multi-asset trading platform.
The fully hosted Fidessa platform will replace a number of systems from different suppliers and will provide ADMISI with cross-asset trading, order management and middle-office functionality, for users located in its London office.
Mark Fox-Andrews, managing director of ADMISI comments: "By installing Fidessa's integrated platform we can enhance straight-through-processing, offer state of the art execution capabilities and reduce operational inefficiencies as well as comply with initiatives such as MiFID. We conducted an extensive review of the multi-asset systems available and chose Fidessa primarily for its track record of delivering world class, robust trading platforms."
Through Fidessa, ADMISI brokers and customers will be able to access the London Stock Exchange, Euronext.liffe, Eurex, Chicago Board Of Trade and Chicago Mercantile Exchange. ADMISI will also roll out Fidessa's multi-asset Workstation Execution Management Service to its own clients as part of the deal. This will allow its buy-side clients to route multi-asset order flow directly through to ADMISI.
The Fidessa Workstation EMS provides a global, broker-neutral order management and execution solution targeted at buy-side trading desks. It combines value-added market data and tight integration of asset classes enabling users to have an accurate, comprehensive picture of what is happening in the markets, along with the ability to trade them, all from one proven system.
ADMISI required a robust trading platform that provided advanced risk management capabilities and the ability to monitor its exposure in real-time throughout the day. Fidessa's platform provides different layers of risk management and allows ADMISI management to have accurate views on the trading thresholds of customers.
Steve Grob, head of derivatives at Fidessa, adds: "We are seeing a real desire in the industry to move away from single asset class platforms, even if you are trading just derivatives. Having instant information on the underlying assets on the same screen is a distinct advantage in the market and with Fidessa's multi-asset trading platform, ADMISI will be able to achieve just that."
ADMISI has also signed up to become a receiving broker on Fidessa's global connectivity network and will act as a destination broker for both derivatives and cash equities order flow. The Fidessa connectivity network provides access to over 750 buy-sides, 170 brokers, 68 exchanges and 9,000 users at over 260 client sites around the world.