Collins Stewart deploys Fidessa’s Advanced Trading Tools

27 January 2009

Fidessa group plc (LSE: FDSA), provider of the Fidessa and Fidessa LatentZero trading, market data and global connectivity solutions, has today announced that Collins Stewart (CLST.LN), a leading UK independent investment banking group, has successfully gone live with the full suite of Fidessa’s Advanced Trading Tools, which includes List Management, Wave Trading, Pairs Trading and the BlueBox algorithmic trading engine.

Peter Hall, Head of IT and Operations at Collins Stewart, comments: “The complexity of today’s trading environment calls for highly automated, reliable and efficient execution, and the increasing use of algorithmic strategies. Fidessa’s Advanced Trading Tools, which are fully integrated with our existing Fidessa OMS, enable us to execute client orders faster with minimal manual intervention, providing our customers with best execution, as required under MiFID.

“Thanks to Fidessa’s Advanced Trading Tools, we have increased trader productivity significantly, which has already enabled us to generate new client business.”

Fidessa BlueBox gives Collins Stewart, a Fidessa hosted client since 2004, access to industry-standard, out-of-the-box algorithms, including VWAP, TWAP, Arrival Price and Percentage of Volume. Fidessa List Management and Wave Trading enable Collins Stewart to trade large mixed baskets while consolidating all trades and performance data in real time. Fidessa Pairs Trading is a set of trading strategies that takes advantage of merger and acquisition structures, and market inefficiencies, in order to obtain profit. The Advanced Trading Tools suite is currently used by three members of Collins Stewart’s execution team, allowing them to handle a far greater number of client orders than before.

Julian Garcia-Santos, Head of Client Marketing for Hosted Services at Fidessa in Europe, comments: “We are very excited about extending our partnership with Collins Stewart, which underscores our ability to assist brokers in executing increasingly complex and challenging client orders. Providing high performance, low-latency market data and global exchange connectivity, our Advanced Trading Tools are an easy-to-deploy, cost-effective solution that enables brokers to enter the algorithmic trading space, increase their order flow and demonstrate performance.”

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