Fidessa group plc (LSE:FDSA), provider of the award-winning multi-asset trading, portfolio analysis, compliance, market data and global connectivity solutions for the buy-side and sell-side, today announced that Renaissance Capital, the Moscow-based leading emerging markets investment bank, has gone live with the Fidessa sell-side trading platform as part of an upgrade to its global trade execution management systems.
Russia has been highlighted as an important new strategic region for Fidessa's products and services, as businesses there look to expand their reach internationally and need the proven, flexible, global solutions that Fidessa provides. Fidessa's first client in Russia went live late last year.
Alexey Martynishin, Head of Front Office IT at Renaissance Capital, comments: "This announcement marks an important stage in a broader programme to develop and upgrade our global EMS and OMS trading capabilities and is further evidence of our service commitment. We were already aware of the strong reputation of Fidessa's technology and this was proven over the course of the selection process. Ensuring that Renaissance Capital has the best technology platform is a key part of guaranteeing that we can continue to achieve strategic goals and serve our broad range of global clients effectively and efficiently. The implementation itself was a success, and since we went live the feedback has been very positive."
Dan Smalley, Head of EMEA Enterprise Business Development at Fidessa, adds: "We are very pleased to be increasing our footprint in Russia with this partnership, especially given the scale and reputation of Renaissance Capital. This is a demonstration of Fidessa's commitment to extending our presence in the region, and we view the relationship with Renaissance Capital as a key part of that strategy. We are excited about making further inroads into the Russian market to build on our existing relationships."
This announcement follows a number of global successes for Fidessa across Asia, Europe and North America on both the buy- and sell-sides, with around 60 new clients taking Fidessa solutions in the first six months of 2009 alone.