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Fully integrated solution seamlessly joins global trading services and tools with industry leading connectivity network
Fidessa group plc (LSE: FDSA), provider of high-performance trading, investment management and information solutions for the world’s financial community, today announced that Miller Tabak + Co., LLC, an institutional trading firm specializing in the discrete handling of stock purchases and sales, portfolio rebalancing and listed options, has selected Fidessa to provide a comprehensive solution to handle its global, multi-asset trading business.
Fidessa’s trading platform offers Miller Tabak a consolidated way to manage equity orders, trades, positions and market access along with middle office services such as client allocations and confirmations. The solution also provides membership in Fidessa’s expansive broker network, back office interfaces to market data providers, and a complete set of advanced trading tools including Bluebox, its algorithmic trading engine solution, plus its pairs trading module and global basket trading capabilities.
“Our biggest challenge was to find a way to consolidate our disparate systems and standardize on one single solution,” said Brian Byrne, Managing Director at Miller Tabak. “We were able to see immediate benefits from having a seamlessly integrated platform, especially in the form of cost savings and increased efficiencies, which we have passed along to our clients through aggressive and imaginative trading strategies. From a cost, support and technology perspective, we could not have found a better partner for our current and future trading goals than Fidessa.”
Justin Llewellyn-Jones, Chief Operating Officer at Fidessa US, added: “Stricter regulation, increased fragmentation and ongoing globalization have placed increased cost pressures on broker-dealers that are looking for ways to consolidate platforms, compress trades and minimize execution costs. Miller Tabak is a venerable trade execution firm providing state-of-the-art trading infrastructure and services to hedge funds and large financial institutions. Their client relationships have been built on a solid foundation of trust, experience and dedication, all of which are also key tenets of Fidessa’s business philosophy. We see this implementation, and this partnership, as a key new relationship for us in the institutional investment space.”
Fidessa's award-winning multi-asset trading solutions serve more than 25,000 users across 950 clients around the world. The Fidessa connectivity network carries over $10 trillion of order flow per year and connects 3,200 buy-sides to 750 brokers covering around 200 markets globally.
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