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Citi selects Fidessa to deliver global derivatives platform

email this aricle - Citi selects Fidessa to deliver global derivatives platform - 11 October 2011 print this article - Citi selects Fidessa to deliver global derivatives platform - 11 October 2011
Citi has selected Fidessa to provide it with a class-leading workflow and trading platform for the bank's global listed derivatives business.
This partnership will see Citi leverage Fidessa's scale and distribution to deliver a fully-managed service that satisfies its listed derivatives needs around the world. Fidessa will provide Citi with a global order management and distributed low-latency execution platform along with BlueBox, Fidessa's integrated algorithmic trading engine. The Fidessa solution will also deliver next-generation risk management functionality, comprehensive market data and a global order routing service.

Jerome Kemp, Managing Director & Global Head of Exchange Traded Derivatives at Citi, commented: "We are extremely excited to be partnering with Fidessa to deliver a new, market-leading, derivatives trading platform for our business globally. This is a game-changing and empowering move for Citi. We went through an extensive evaluation and selection process, and chose Fidessa for their sophisticated, integrated workflow capabilities that operate across multiple asset classes, as well as for their reputation for offering the very highest levels of service and support."

The new platform will be implemented in a number of phases, commencing later this year, leveraging Fidessa's extensive network of hosting centres across North America, Europe, Asia Pacific and Japan, and will be closely integrated with Citi's own proprietary internal back-office business systems.

Stephen Barrow, Global Sales Director at Fidessa, added: "We have invested significantly to move our assets forward, including the architecture and functionality of the Fidessa sell-side trading platform, as well as our operational know-how. This has enabled us to set a new benchmark with our fully managed, truly integrated, multi-asset global trading solution. This partnership is tangible validation of our focus and conviction in bringing Fidessa's industrial-strength platform and precision- based delivery model to the derivatives marketplace. We are very proud to have been selected by Citi for this important strategic initiative, and we look forward to working closely with them to help each other make further progress over the coming years."

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