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 it has successfully passed the vendor certification testing with new Australian equity trading venue, Chi-X.
Fidessa is now set to provide full support to the local and international trading community by providing them with intelligent access to the multiple trading platforms that will emerge in Australia later this year.
Fidessa recently signed a deal with the Australian Securities Exchange (ASX) to provide the software and technology infrastructure for ASX Best, a multi-market trading application that allows smart order routing between venues. ASX Best will enable participants to meet their best execution obligations in the new multi-market trading environment by enabling the routing of orders to all lit and dark trading venues. The international trading community wanting to access Australia will also benefit from this development.
Fidessa's global trading community consists of more than 27,000 users across 950 buy-side and sell-side firms to whom it supplies a selection of powerful trading, market data and analysis systems that range from simple direct market access workstations through to smart workflow, algorithmic trading engines, and internal matching solutions. These products and services are based upon providing a simple, consolidated view of liquidity spread across multiple venues and allow firms to harmonize their order management and trading workflow within the more complicated market structures that now exist.
"We are pleased that Fidessa is working so closely with our trading participants as Australia opens equities trading to new entrants," commented Jason Keady, Director Markets & Operations, Chi-X Australia. "Chi-X has collaborated successfully with Fidessa through our ventures around the world and we look forward to enjoying a similarly supportive and committed relationship with the firm in Australia."
Fidessa delivers its solutions in the US, Canada, Europe, Asia and Japan and has incorporated smart multi-market workflow in many of these markets as they have adopted new regulatory structures. The company is now set to bring this experience to the Australian marketplace. "Fidessa is now widely recognised as one of the leading suppliers of trading technology across these regions," said Steve Grob, Director of Group Strategy for Fidessa. "And we are now able to bring this experience to Australia and build on the relationships with domestic firms that we have established in recent years. We are encouraged by the contracts that we have already won as market participants rethink their technology in light of the impending market structure changes. Chi-X Global has become a trusted partner of Fidessa around the world and we look forward to working closely with its Australian team."
As part of its commitment to the Australian marketplace, Fidessa is also making available its range of global fragmentation tools, which allow people to interpret the pace and direction of liquidity fragmentation around the world. This award-winning suite of tools has become the de-facto standard globally and is available free-of-charge to members of the Fidessa community at: fragmentation.fidessa.com.