Oslo-based First Securities has selected Fidessa’s Software as a Service (SaaS) sell-side trading platform. The system incorporates a smart order router and connectivity to multiple liquidity venues to help First Securities, which is a subsidiary of Swedbank, to operate in a fragmented marketplace.
Peter Wessel, head of equities at First Securities, said, “It is fundamental to our business strategy that we offer the best possible service to our buy-side clients and that underpinned this decision. The requirement to upgrade our trading capabilities was largely prompted by the liquidity fragmentation that has characterised the European market over the last two years.”
Fidessa’s SaaS trading system comprises trading platforms developed for the European, US, Canadian, Japanese and Asian markets, including electronic order management, smart order routing, real-time market data, and global market connectivity.
Wessel continued: “We were aware of Fidessa’s reputation for rich functionality and, with their powerful smart order routing capabilities and broad market connectivity, we can be sure that we are offering the best possible execution services to our buy-side clients. With this decision we are also future-proofing ourselves against further change, for example the Oslo Børs’ move to the TradElect platform and the London Stock Exchange’s forthcoming Millennium Exchange platform migration.”
Fidessa claims to link more than 2,400 buy-side institutions to more than 530 brokers across EMEA, Asia Pacific and the Americas.