Fidessa unveils order management and execution system for US brokers

Source: Fidessa

Fidessa group (LSE:FDSA) provider of trading systems, market data and global connectivity, today announced the launch of Fidessa MAAX.

Built on Fidessa's industrial strength architecture, MAAX encapsulates the core order and execution management modules of the award winning Fidessa Trading Platform, and provides a fully hosted solution for boutique institutional agency brokers trading US equities.

MAAX provides US brokers with a quick to deploy, technologically advanced and broker-neutral trading and execution solution that requires minimal internal technical support.

Montage, Fidessa's market leading Smart Order Routing solution, is fully integrated within MAAX. It seeks liquidity using low-latency connections to multiple venues, ensuring a competitive edge by providing broader access to liquidity. Comprehensive market data, including real-time Level I & II data, is also fully integrated into the service. Additionally, MAAX provides advanced real-time risk and position management, including overnight, monthly and yearly rollover.

MAAX supports:

  • Buy-side order flow.
  • Broker compliance and regulatory requirements including: RegNMS, RegSHO, ACT, OATS, OTS and the 605/606 reports.
  • Back office connections for street side trades and client allocations.
  • Real-time risk and position management.
  • Trading on the following US venues: NYSE, NYSE Alternext, NYSE ARCA, NASDAQ, BATS, NSX, ISE, DirectEdge, TRAC, LavaFlow, CBSX, CHXE and BOOK.
  • Access to 3rd party broker algorithms and Dark Pools.

David Polen, SVP of product marketing at Fidessa, comments: "There are tremendous opportunities in the market today, and boutique brokers need to be able to provide many of the same services expected of their Tier 1 counterparts. By tailoring the core order and execution management modules towards these brokers, Fidessa enables them to leverage these services in a cost effective way, that provides a simple upgrade path to the additional services offered by the Fidessa Trading Platform as their businesses groww.″

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