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BHF-Bank selects Fidessa

06 September 2010  |  3153 views  |  0 Source: Fidessa

Fidessa group plc (LSE:FDSA) provider of award-winning trading systems, market data and global connectivity for buy-side and sell-side firms, today announced that BHF-BANK (BHF) has selected its Software as a Service (SaaS) sell-side trading platform.

BHF-BANK, one of Germany's foremost private banks, will be using Fidessa's fully managed solution to underpin its growing equity trading business.

Thomas Eckert, Head of Equities at BHF-BANK, explains: "We took the decision around a year ago to move into the equity trading space. Since then we've built up a strong team and we're carving out a niche as a specialist German broker. Our flows have increased significantly and it became clear that we needed a world-class trading system to underpin this success and provide a platform for future growth. Having assessed the market it quickly became clear that Fidessa could meet all our needs and provide a robust front end system that our customers could rely on."

BHF will be using Fidessa's SaaS deployment of its trading system, incorporating best of breed order and execution management and middle office capabilities. Fidessa's basket trading functionality will enable BHF-BANK to trade large mixed baskets while consolidating all trades and performance data in real time. BHF will also be using Fidessa's pairs trading system, enabling them to manage large numbers of client pair orders within the platform's integrated order workflow.

Carsten Stork, Head of Institutional Trading at BHF-BANK, adds: "We knew Fidessa's strong reputation in this space, and so naturally their name was on the list when we started considering possible solutions. Nevertheless, we went through a full due diligence process and, through that, quickly realised that Fidessa's integrated system was the right choice. We have been impressed with their focus and their ability to understand our requirements. With the system in place we look forward to further growth."

Mark Holden, New Business Sales Manager for Fidessa in the region, concludes: "We are delighted to be working with a company of BHF-BANK's vision and reach. Germany is a key region for Fidessa and we have been pleased to see the positive response to both our technology and our approach which has seen our established client base among the top tier banks in Germany expand steadily. It's a very exciting time for us in Europe at the moment with recent wins in France and the Nordic region complementing a growing presence in the emerging markets of Central and Eastern Europe."

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