Fidessa group plc (LSE: FDSA), provider of high-performance trading, investment management and information solutions for the worldâs financial community, has today announced that ITGâs pre-trade analysis tool, ITG LogicÂ®, is now fully integrated with its Buy-side Workstation.
The integration of ITG LogicÂ® extends the analytics capabilities already built into the Buy-side Workstation, which now provides traders and portfolio managers with the means to measure expected transaction and opportunity cost by using factors such as execution strategies, time horizon, volatility, spread, volume and order size. The ability to analyse the effects of these different factors gives users a better understanding of the trade-off between market impact and opportunity cost. The underlying analytics and models also offer decision support across the investment continuum, from understanding the trade-offs between different algorithms, through to the identification of outliers, as well as forming part of the portfolio construction process and supporting investment capacity evaluation.
The Fidessa Buy-side Workstation already provides seamless integration to a comprehensive range of broker analytics as well as direct access to its own Fidessa fragmentation tools - the industry benchmark suite of fragmentation and execution quality analysis tools that allow all market participants to analyse their performance against a consolidated view of the market.
Russell Thornton, Global Head of Buy-side Workstation Solutions at Fidessa, said: âThe integration of ITG LogicÂ® with the Buy-side Workstation is a fantastic enhancement for our mutual clients and ensures that our buy-side traders have the very best decision-making tools at their fingertips. With an ever-increasing focus on costs, especially in today's volatile markets, tools such as these can really make a difference. These enhancements to our Workstation will help empower buy-side traders with the tools they need to make better trading decisions.â
Yossi Brandes, Managing Director at ITG in Europe, confirmed: âWe are very pleased to complete the integration with Fidessa. In todayâs highly electronic trading environment, such decision-making support tools are a necessity and should be part of the sophisticated trading environment and workflow of every trader. The fragmentation of the equity markets and the proliferation of algorithms call for tools that can assist traders in achieving best execution.â
Adds Thornton: "Sophisticated pre-trade analytic tools are essential to this process and form part of our ongoing investment to deliver market-leading performance and functionality within our Buy-side Workstation."
The Fidessa Buy-side Workstation is an out-of-the-box trading solution with powerful functionality that gives greater control of the execution process and provides instant access to cross-asset DMA tools, algorithms and program trading. Delivered as a Software as a Service (SaaS) broker-neutral platform, the Buy-side Workstation is supplied with market data and trading integration via the Fidessa network, which provides low-latency FIX connectivity between 2,650 buy-sides and 650 brokers across 160 markets globally.