Fidessa group, a provider of the Fidessa and Fidessa LatentZero trading solutions for the sell-side and buy-side, has announced it has signed five clients for its fully hosted Canadian trading platform. The Canadian hosted trading platform was launched in January 2007 in response to client demand, says the firm. The platform combines electronic order and execution workflow along with real-time, multi-currency trading, position keeping and reporting.
The Fidessa platform provides navigation of Canada’s increasingly fragmented capital markets system through its end-to-end trading solutions and advanced trading tools that include pairs trading, list management and wave trading tools, and Fidessa BlueBox, the firm’s algorithmic management system (AMS) that is integrated within the Fidessa OMS.
“Canada’s brokers are increasingly in need of smart routing and intelligent order and execution solutions as Canada’s markets become more complex,” comments Ron Lee, head of Fidessa Canada.
Fidessa says it has developed and enhanced its product’s functionality specifically for the Canadian market.
Pairs trading is an example of how Fidessa is filling a technology gap not previously filled by the incumbent suppliers in the region, adds the firm. Fidessa has also been actively connecting to additional Canadian displayed and dark liquidity sources as they appear.
Fidessa offers brokers consolidated market data displays, a 'point and shoot' capability that allows them to hit multiple orders in multiple locations, and electronic order audit trails with which they can develop historical execution data for each exchange.