Fidessa group plc (LSE: FDSA), provider of award-winning trading, compliance, market data and connectivity solutions for the buy-side and sell-side globally, today announced that Threadneedle Asset Management, a leading UK-based full service investment house, with £69.9 billion assets under management, has successfully gone live with an updated version of its buy-side front office technology suite, LatentZero.
Threadneedle has completed a full technical upgrade of the three core elements of the solution: Tesseract for portfolio analysis and order generation, Minerva for order management, trading and post-trade processing, and Sentinel for and pre- and post-trade investment compliance.
Threadneedle has been using the full LatentZero suite since 2003 to handle the majority of its equity operations. This upgrade, which saw Threadneedle partner with Fidessa's own professional services team, was part of a wider programme of technical change at Threadneedle, with multiple co-dependent technology projects running concurrently.
Tom Cunningham, Head of IMS at Threadneedle explains: "For us, the LatentZero system is the cornerstone of our trading technology so interoperability with all of our other systems is crucial. Evidently, timing was fundamental here, and it was particularly impressive that we were ready to go live ahead of the aggressive timescales in place. This upgrade has enabled us to implement a version of the software that is also used by many of our peers, and thus gives us a robust and reliable base from which to bring on additional functionality in the future."
Ian Cox, Director, Buy-side Client Services at Fidessa adds: "It has always been a key element of Fidessa's strategic approach to develop long-term consultative relationships with our clients, and this is a prime example. The project was executed in a truly collaborative manner, using the enhanced engagement model which we are now adopting across our client base. As a result of this model, and the knowledge and commitment of the team, we have completed a significant technical upgrade ahead of schedule. As a result of this upgrade, Threadneedle will benefit in the future from the significant technology and functionality advances we have delivered in the recent product set. We very much look forward to continuing our successful partnership."