Knight Equity goes live with Fidessa trading platform

Source: Royalblue

Royalblue (LSE:RYB) today announced that Knight Equity Markets International Ltd. (KEMIL), a UK registered broker-dealer and a subsidiary of trade execution specialist Knight Trading Group Inc., has gone live with a hosted Fidessa platform for member trading and non-member direct market access (DMA) on European markets.

Fidessa replaces SunGard BRASS system at KEMIL, and serves its London dealing room of 37 users.

KEMIL is using the latest release of the Fidessa trading platform, version 4.2 that supports fully integrated market-data, news, fundamentals and charts. The system is also linked to KEMIL's GFTPS back office system.

Through Fidessa's global connectivity network, KEMIL has member trading access to major European Exchanges and non-member DMA trading through Credit Agricole Cheuvreux on other European markets. Fidessa also handles incoming electronic order flow from institutional as well as retail clients, and allows KEMIL to offer its own DMA trading facility on London to its non-member clients.

Simon Barnby, business development manager for Fidessa, adds: "We are excited about the implementation at KEMIL which allows us to demonstrate Fidessa's ability to provide a financial institution and its customers with increased electronic connectivity and trading. Fidessa's hosted trading platform offers connectivity to over 80 brokers, 130 buy-side firms and 20 exchanges."

The Fidessa product suite provides integrated trading, market data and connectivity solutions to around 7,000 users at over 150 institutions around the globe.

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