royalblue (LSE:RYB), provider of Fidessa, today announced the launch of tradable Indications of Interest (IOI) and Trade Advert (TA) services for buy-side firms fully integrated into its Fidessa Workstation Execution Management Service (EMS).
Fidessa now delivers IOIs directly to buy-side traders, fully integrated for the first time into an execution management solution and as such enables traders to search for large block liquidity quickly and minimise market risk. Uniquely, Fidessa EMS also allows the buy-side trader to trade a chosen IOI with a simple double click. This provides a fast, efficient and error-free method for the trader to route large block orders back to the originating broker for execution.
The new service means users of Fidessa EMS are now able to receive IOI and TA flow directly from any of 50 direct connections on the Fidessa network, including blue-chip names such as ABN Amro, C.A Cheuvreux, Credit Suisse, Deutsche Bank, JP Morgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, Société Générale and UBS.
Simon Barnby, global director of marketing communications at Fidessa comments: "We are committed to supplying the buy-side with the most powerful execution management system in the market. The provision of fully integrated tradable IOIs, together with trade advert data, delivers on this promise and ensures buy-side traders have the highest visibility of price improvement and off exchange liquidity compared to competing EMS products."
Fidessa EMS is a global, broker-neutral execution management system targeted at buy-side trading desks. Provided as a fully managed and hosted service, EMS offers sophisticated order handling and trading tools, and facilitates execution through the care, DMA and algorithmic services of over 170 brokers worldwide.
The Fidessa product suite provides multi-asset trading, market data and connectivity solutions to over 9,300 users at 260 institutions worldwide and is used by over 85% of global, tier-one equity brokers. Fidessa's connectivity network provides links to over 750 buy-side institutions, 170 brokers and 68 exchanges worldwide.