Fidessa group plc (LSE: FDSA), provider of high-performance trading, investment management and information solutions for the world's financial community, has today announced that Brown Brothers Harriman (BBH) has successfully gone live with Fidessa's US sell-side trading system on a Software as a Service (SaaS) basis.
BBH will also be employing Fidessa's fully integrated global trading service. By automating workflow and allowing BBH to consolidate a number of existing systems, the implementation will yield significant operational efficiency benefits.
BBH selected Fidessa for its Global Execution Management Services business following a comprehensive vendor comparison exercise. Deployed across its bases in New York, London and Zurich, Fidessa's integrated global trading service gives BBH a consolidated view of both its international and domestic orders. The firm also benefits from Fidessa's network of global ticker plants that provide low-latency market data direct from the trading venues in each region, together with news, fundamentals, charts and analysis.
"Fidessa's reputation for stable technology, coupled with rich functionality, was a key factor in our selection process," stated Garvin Young, global head of trading, BBH. "We were pleased to discover that this was a clear reflection of the system when we came to evaluate the options available to us. From the start, all engagement with Fidessa was characterized by its thorough and detail-driven approach. In particular, the implementation has been remarkably swift and straightforward. The Fidessa trading platform not only meets our needs now, but gives us a robust and flexible base from which to grow and develop our business further in the future."
Fidessa's sell-side trading platform comprises its world-class order and execution management system, delivering seamless straight-through processing from order inception to trade confirmation, as well as comprehensive middle office capabilities. In addition, BBH will have access to more than 150 trading venues worldwide via Fidessa's global FIX connectivity network.
"Fidessa's global trading functionality is frequently cited as a key strength by clients and prospects, and that capability for international trading has been at the heart of this project," commented Justin Llewellyn-Jones, chief operating officer, Fidessa US. "The scalable nature of the SaaS-deployed trading system makes it a compelling choice for a wide range of clients, many of whom see it as part of their foundation for further growth and development. We are delighted that our close coordination with BBH has allowed us to get the platform live so quickly, and we look forward to building on the strong client-vendor dynamic we have already established."