Fidessa group (LSE: FDSA), provider of high-performance trading, investment management and information solutions for the world's financial community, has transformed its connectivity service for the buy-side.
Recognizing that firms can no longer rely on the provision of FIX engines and networks alone, the service now covers all hosting, management and operational aspects of a firm's FIX and Non-FIX based connectivity and infrastructure.
"Buy-side firms are operating in an ever-more challenging world, with a seemingly constant flow of new regulatory requirements coupled with an increasingly complicated pre-trade, at-trade and post-trade landscape," commented Megan Costello, President of Fidessa's North American Buy-side Business. "Access to a broad range of multi-asset broker services, hubs, crossing engines and post-trade systems all around the world is now commonplace, but it brings with it the need to implement and run a highly complex technology infrastructure."
Fidessa has operated a global network providing buy-sides with unparalleled connectivity for many years. The new service enables firms to concentrate on their core business and outsource their complete connectivity infrastructure to Fidessa, which will take over hosting, networking and operational management for its buy-side customers.
Costello continued: "Buy-side firms are grappling with many challenges in the post-financial crisis era, from the increased complexity of multi-asset class trading to shortening settlement cycles, which necessitate different operating models. We have risen to this challenge, and clients can rely on Fidessa to look after all of their connectivity needs, including proprietary and third party systems, and offload the responsibilities that come with running and managing FIX and Non-FIX based technology. This provides the buy-side with a simple, cost-effective solution that allows them to operate globally and across multiple asset classes without the hassle of maintaining their own infrastructure."
The service leverages Fidessa's existing robust network of global data centers and hosting capabilities. It also includes an advanced suite of testing and simulation tools, comprehensive operational reports and a seamless connectivity experience, regardless of asset class or region.
Fidessa's global network currently connects approximately 3200 buy-sides to 750 brokers across 200 execution venues covering equities, fixed income and FX. It is compatible with both FIX and proprietary Non-FIX message types, and carries order flow of more than $950 billion each month.