SSgA, with US$2 trillion under management, was an original customer of LatentZero prior to its acquisition by Fidessa. This implementation heralds a new era in the relationship as the project was run collaboratively with both parties covering development, delivery and implementation. The newly live environment provides greater automation of the trading process across all asset classes allowing SSgA to meet its objectives of minimizing trading costs while improving risk management.
Paul Nokes, Fidessaâs Global Buy-side CEO, said: âOur buy-side clients are increasingly seeking true partnerships that deliver the cross-asset, global solutions they need to operate effectively from a supplier that has resources and commitment to drive the project all the way through the implementation. The investment SSgA has made in our technology affirms the quality and flexibility our solutions offer and reflects the substantial progress we've made in aligning our technology with the real needs of the marketplace. We look forward to continuing to deepen our long-term relationship with SSgA.â
âWe were impressed by the new partnership model that Fidessa has brought to its buy-side solutions. The value this brings, along with the highly collaborative engagement process that Fidessa now offers, has facilitated the seamless transition of fixed income trading onto SSgAâs enhanced global trading platform,â said Marc Brown, Chief Administrative Officer of SSgA. âWith increased regulatory requirements and subsequently growing compliance costs, we feel confident that this technology will support SSgAâs aim of driving down transaction and reporting costs while improving workflows and risk control,â he added.
Key features of Fidessaâs buy-side offering for SSgA include a single pre- and post- trade compliance solution for all asset types to consolidate the compliance function; improved market connectivity for fixed income, foreign exchange and equities; and portfolio modeling and decision support.
Fidessaâs global trading community consists of more than 27,000 users across 950 buy-side and sell- side firms. Its buy-side product suite is the only scalable solution available to offer comprehensive functionality for equities, fixed income, listed and OTC derivatives, money markets and FX on both a pre- and post-trade basis.