Fidessa group plc (LSE: FDSA), provider of high-performance trading, market data and global connectivity solutions for the buy-side and sell-side, has today announced that Oslo based Pareto Securities AS (Pareto) is live with its Software as a Service (SaaS) sell-side trading platform.
Pareto Securities, the investment banking arm of the Pareto Group, has offices in Norway, New York and Singapore. The Fidessa solution, which has underpinned Pareto's global trading operations for six months now, incorporates Fidessa's proven algorithmic trading functionality and FIX connectivity to multiple liquidity venues worldwide, allowing Pareto to meet the challenges of an increasingly fragmented trading landscape.
Fidessa signed a number of deals with Norwegian brokers last year and Pareto is the first in the region to go into production with its fully hosted trading platform.
A spokesperson for Pareto Securities explains his firm's decision to select Fidessa: "In light of Oslo Børs' move onto the London Stock Exchange's trading platform, and increased fragmentation in the Norwegian market, we sought an international partner to provide us with a robust and reliable trading system that would enable us to deliver the very best execution services for our clients. Fidessa's system provides the flexibility we need to operate in an increasingly competitive and fragmented market. This, coupled with a network that provides us with connectivity to an extensive buy-side community and worldwide trading venues, allows us to give our clients the best service now and in the future."
Mark Holden, New Business Sales Manager for Fidessa in the region, added: "We've seen great demand in the region over the past couple of years, with our technology proving a good fit for brokers looking to manage the complexities of trading across multiple venues. It is gratifying to know that the investment made by Pareto in our trading platform has been met with such a positive response. We're pleased to be continuing our partnership with Pareto as they continue to develop their trading services."