Named Most Innovative Market Data Project at IMD Awards
Fidessa group plc (LSE: FDSA) today announced that it has won the award for Most Innovative Market Data Project at the 2016 Inside Market Data Awards, hosted by Inside Market Data, Inside Reference Data and Waters Technology. The award was presented for Prospector, Fidessa's new liquidity tool that enables sales traders to quickly discover trading and crossing opportunities that would otherwise not be found.
The search for liquidity is all about bringing together the right information, the right way, and then acting fast to deliver the very best service to clients. But, in today's fast moving markets, it's hard to produce any meaningful output from the huge volume and complexity of data that is available across different systems.
Designed to empower the new generation of sales traders, Fidessa Prospector monitors both live and historical client trading activity, client 'watch lists', shareholdings data and traders' interests to provide genuine insight and context. Launched in March this year, Prospector is being rolled out globally and already has clients signed up for it across the Americas, Europe and Asia.
Jay Biancamano, Head of Equities Product Marketing for Fidessa in the Americas, commented: "In today’s complex markets, sales traders need to find liquidity in an efficient, timely and strategic manner, particularly when handling large client orders. They also want to take advantage of any potential internal crossing opportunities within the firm, before going out to the market, in order to maintain anonymity, minimize market impact and information leakage, and avoid any unnecessary exchange trading fees."
"With Prospector, traders are alerted to trading opportunities that would otherwise be missed," Biancamano continued. "And, because it is fully integrated with our order management system, they don’t need to move between systems or re-key data so they can act fast. That agility and data accuracy is a real differentiator."
James Blackburn, Global Head of Equities Product Marketing for Fidessa, added: "We're delighted to have received this award, particularly as it recognizes our commitment to developing truly innovative tools that arm traders with what they need for today's fiercely competitive marketplace. Prospector is part of our Optimized Trading initiative which we launched last year, and is aimed at extending the range of integrated tools available within the Fidessa OMS to provide powerful insight and trading capabilities in an increasingly complicated and automated world."
This award, presented at a gala dinner in New York last night, is the fourth for Fidessa's sell-side products and services in the last quarter and the eighth in the past twelve months.