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Fidessa Extends Derivatives Capabilities with Susquehanna

Top broker joins Fidessa community for options execution

Fidessa group plc (LSE: FDSA) has today announced that Global Execution Brokers LP (GEB), a member of the Susquehanna International Group of Companies (Susquehanna), has joined the Fidessa community to offer options execution capabilities to its members. This means that all 750 brokers on the Fidessa network can now route order flow to Susquehanna, one of the largest and most sophisticated options executing brokers in the world, directly through their existing Fidessa connection.

Fidessa clients will be able to take advantage of GEB’s superior options execution services, underpinned by its scalable, low-latency execution platform. GEB offers connectivity to all of the listed options exchanges, smart order routing, routing to NBBO and sweep functionality, along with support for all exchange-traded and complex order types, direct access routing, price improvement, GTC reconciliation, and a dedicated team of experienced options traders.

Joe Sellitto, CEO of GEB, said: “Fidessa’s reach, robustness and reputation for quality as a multi-asset technology provider perfectly complements our service, making this a very logical decision for us. This move simplifies an increasingly complex and fragmented options market for all Fidessa clients, allowing them to take advantage of the vast opportunities presented by this asset class.

Joy Rosenstein, Business Development Manager at Fidessa, added: “The great strength of Fidessa’s community is the way in which, through its scale and diversity, it gives members managed access to global best-in-breed firms. With the addition of GEB, we are bringing on board one of the premier options brokers at a time when global volumes are on the rise. Susquehanna is already an equities trading platform client, and we see this deal as a natural extension of our relationship into another asset class.

The Fidessa network is one of the largest of its kind, currently processing order flow of $850 billion each month. In addition to its scale, other benefits include a live summary of connections and executed order flow, intelligent routing, manipulation and enrichment of messages, and the ability to manage connectivity to the Fidessa network and direct FIX connections from one application.