Société Générale Corporate & Investment Banking (SG CIB) has gone live with trading technology firm Fidessa’s smart order routing service in Europe.
SG CIB is using Fidessa’s SOR capabilities to automatically split orders across multiple venues. The technology allows the bank to access liquidity displayed in both traditional exchanges and MTFs. Through Fidessa, SG CIB now connects to 15 European exchanges and Chi-X Europe, and will soon extend its connectivity to Turquoise and its own internalised liquidity.
“The European equities marketplace is becoming more fragmented by the month and the need for consolidation technology is now critical,” said Richard Hills, global head of electronic services at SG CIB, in a statement. “The complexity of trading in this environment means a greater reliance on low-latency, highly reliable technology capable of sweeping all external and internal liquidity.”
He added, “We have used Fidessa’s smart routing in the US marketplace for several years and we moved to the European smart routing component because of Fidessa’s expertise at building complex infrastructure in this area.”
Fidessa’s SOR has been made available to all of SG CIB’s clients in Europe, North America and Asia for single order, programs, risk, DMA and algorithmic trading channels. This adds to the existing Fidessa SOR capability for trading in the US markets.
The SOR is an integral part of Fidessa’s recently announced Intelligent Liquidity Strategy, which aims to provide both the sell- and the buy-side with complete access to liquidity.