royalblue (LSE:RYB), provider of Fidessa, today announced an agreement with Credit Suisse First Boston (CSFB), a leading global investment bank, to add its non-member trading facilities to Fidessa's global connectivity network.
Key to CSFB's offering through Fidessa is the investment bank's Advanced Execution Services (AES) system. AES is the industry's leading algorithmic trading system using both historical and real-time data to assess trading conditions.
Under the terms of the agreement, CSFB joins Fidessa's multi-broker order routing network as a destination offering execution services for their clients in equity markets around the globe.
AES enables the automation of a large proportion of order flow, thus allowing traders to focus on more complicated trades. Clients can access AES electronically with full trading anonymity. AES provides access to a number of algorithmic trading strategies that will allow Fidessa clients to achieve specific goals, such as minimising market impact or tracking defined benchmarks. In addition, CSFB will offer support for managed orders to be worked by the broker in the market for clients, and Direct Market Access (DMA) trading.
Fidessa's connectivity network provides a fully normalised, broker-neutral solution for clients wishing to route order flow to a variety of sell-side destinations. Typical uses of the solution include buy-side to sell-side connectivity and broker-to-broker connectivity to support non-member trading across numerous markets.
Commenting on the agreement, Richard Balarkas, managing director and global head of Advanced Execution Services at CSFB, says: "Fidessa provides a market-leading solution for global order routing to all tiers of the buy-side and sell-side communities. By using our AES platform, Fidessa clients can now have direct access to a variety of trading strategies and can continuously improve their trading performance across global markets. We are pleased to be part of this solution and look forward to the benefits of a strong partnership."
Simon Barnby, business development manager for Fidessa, adds: "Signing up CSFB demonstrates our commitment to offer our clients state-of-the art trading capabilities and broader coverage of the equity markets."