Fidessa announces enhancements to the program trading functionality of its EMS Workstation
Fidessa group plc (LSE:FDSA), the leading provider of multi-asset class trading, portfolio analysis, compliance, market data and connectivity solutions for the buy-side and the sell-side globally, has today announced that the enhanced program trading functionality of its EMS Workstation is live. The new features will allow users to manage lists or programs of orders through one flexible trading blotter.
The EMS Workstation is an internet-deployed, broker-neutral low-latency trading platform for equities and equity derivatives. It is available as a standalone workstation, as a staged solution from any OMS or order source through FIX, or as part of Fidessa LatentZero’s Minerva OEMS. The workstation is a truly global offering, providing out-of-the-box access to more than 120 execution venues and over 400 brokers worldwide. It offers integrated access to algorithms from more than 40 brokers, and TCA is incorporated from Barclays, Citigroup, Credit Suisse, Deutsche, Nomura, and UBS. Global market data and news is fed in from Fidessa’s high-performance ticker plants. Due to its broker neutrality, clients have complete control over which brokers they trade with, enabling them to diversify and reduce risk by managing their own execution strategy.
With the new tools, programs can be sliced off to any trading destination, which may include Care, DMA, Algorithms or dedicated program desks. When slicing waves of market orders from the program, the waves can be viewed as single entities on the market order blotter with all of the underlying market orders grouped below, according to multiple criteria including country, region and %ADV. Users can easily monitor the progress of the individual waves and any error conditions. In addition, the program, wave and single orders are all benchmarked so that the relevant P&L of the wave can be measured in real time.
Russell Thornton, EMS product manager, said: “This year really has been a period of rapid development in the EMS as we strive to meet the ever growing needs of our users. In addition to the enhanced functionality, we also saw the integration of the Fidessa Fragmentation Index (FFI) to enable users to keep pace with the increasingly fragmented trading arena in Europe. It’s very rewarding to see our hard work and investment paying off: in the last year alone EMS connectivity has increased by 60%, due to the combination of enhanced functionality, cost-effectiveness and the confidence afforded by Fidessa’s global backing.”