David Sobolewski, business manager for analytics at Fidessa in the US, comments: âAs the trading requirements of buy-sides become more sophisticated, the need for brokers to extend their level of service, and to measure and report their performance, increases. Building on Fidessa's existing analytics capabilities, this new platform provides firms with the tools they need to deploy new analytics by leveraging Fidessa's calculations, dataset or other data sources. Firms are also able to create new ways of marketing their trading expertise - for example, using alpha capture techniques to add significant value to the services they can offer their clients.â
The analytics platform enables users to take advantage of pre-packaged analytics including "Multi-listed VWAP Since Order Taken", "Estimated Time to Completion", and "Estimated Market Impact over multiple trading periods". Alternatively, users have the flexibility to adjust the pre-packaged analytics or build their own customized, proprietary calculations within the analytics framework. The ability to offer tailored calculations on a client-by-client basis helps firms to differentiate themselves from their competitors, attracting new business opportunities while retaining existing business by providing greater transparency when working their orders.
Philip Slavin, head of European product strategy at Fidessa, adds: âThis new platform also allows model builders to incorporate these analytic calculations into their algorithmic trading engines and smart order routers. In addition, the platform can provide real-time performance reporting and transaction cost analysis to the buy-side, and is built on an open architecture enabling firms to add new analytics programmatically."
In addition to displaying and reporting analytic calculations, the platform generates alerts on outlier events as part of the workflow, and also provides traders with a single-view dashboard to facilitate the use of the derived data to enhance their decision-making process.