Danske Bank will adopt Fidessaâs managed enterprise model which will provide them with access to a highly sophisticated workflow platform delivered through a fully hosted infrastructure. This proximity-hosted solution is deployed, operated and managed by Fidessa's own specialist team. Danske Bank will be Fidessaâs first managed enterprise client in the region, following a series of other high-profile customer wins across the Nordics.
Fidessaâs trading platform will be the technology infrastructure for Danske Bankâs institutional trading desk, as well as providing the platform for the execution of its retail flow. Danske Bank will be able to leverage Fidessaâs low-latency DMA technology, combining connectivity and routing to multiple venues across Europe.
Kim Lilmose, COO at Danske Markets, Equities commented: âWe found Fidessa to be the best front office trading solution out there, and so we are excited to be working with them going forward. Fidessaâs deployment model gives us the flexibility we need. It delivers a high performance platform that is both scalable and resilient while allowing us to focus on developing new services and making these available to our clients quickly and efficiently.â
Rajiv Shah, Enterprise Services Director EMEA, at Fidessa said: âWorking with an organisation of Danske Bankâs scale, reach and reputation is of significant strategic importance to us. We have established a local hosting facility in the region, giving Danske Bank proximity access to its domestic markets. This is a further sign of our ongoing commitment to the region, and the continued popularity of the managed enterprise model globally.â
Fidessaâs products serve 26,000 users across 900 clients around the world and are used by more than 85 per cent of tier-one financial institutions. Fidessa's connectivity network is one of the world's largest and most diverse trading communities, linking 2,400 buy-side institutions, 550 brokers and more than 140 markets across EMEA, Asia Pacific and the Americas. In the first half of 2010, Fidessaâs network increased its traffic by 28% and now carries executed order flow of around $700 billion each month.