Source: Fidessa
Fidessa group (LSE: FDSA), provider of the Fidessa and Fidessa LatentZero trading solutions for the sell-side and buy-side, is showcasing several new product initiatives at EBIF in line with its strategy to address the needs of the German domestic market.
These new services include the addition of Xetra member trading to its Fidessa European Trader Workstation (ETW) product as well as its MiFID client classification and virtual markets modules, which are now available across the entire Fidessa product suite.
Designed specifically to meet the requirements of small and mid-tier equity broker/dealers across Europe, Fidessa's ETW provides a one-stop solution for member and non-member trading services, seamless electronic order handling, powerful order management functionality and sophisticated pre- and post-trade analysis tools.
Simon Barnby, global director of marketing communications at Fidessa comments: "Member trading on Xetra has been available on our global trading platform for a long time. By adding this gateway to our ETW product we can now provide brokers in Germany with a powerful yet cost-effective means of managing their trading activities. ETW offers a fully managed and hosted trading solution tailored to meet European exchange trading requirements."
Launched in September, Fidessa's MiFID suite, already boasts over 50 orders from clients. The client classification module enables brokers to comply with the MiFID requirements by enabling them to record default classifications for each individual account via a client maintenance spreadsheet and to override and record any exceptions to these classifications. Its virtual markets service enables users to view quotes or orders for an individual instrument across multiple markets in a simple and effective way and thus uncover liquidity and ensure best execution obligations are met.
Ian Salmon, head of the MiFID programme at Fidessa, comments: "We have spent the past two years working with regulators and clients to develop our MiFID suite and ensure that it addresses not only the needs of the UK market but also the whole of Europe. The enthusiastic take up we have seen since its launch in September endorses this investment. We continue to upgrade our MiFID services, including the recent addition of new venues such as Chi-X and BOAT."