Fidessa presents its tailored solution for Borsa Italiana members
Milan and London, 2 April 2008 – Fidessa group plc (LSE:FDSA), the leading provider of trading systems, market data and global connectivity, is today showcasing its European trading solution at an event at Palazzo Mezzanotte, Milan, Italy.
Fidessa has seen high levels of interest in its trading solution from both local Italian and international financial institutions impacted by the forthcoming merger between the LSE and Borsa Italiana. MTA market members migrating to London Stock Exchange’s (LSE) TradElect™ platform can take advantage of Fidessa’s established TradElect connectivity and its proven trading technology.
With over 100 LSE members already using its trading solution, Fidessa is the leading supplier of software for brokers trading on the LSE’s TradElect platform. The first stage of the LSE/Borsa Italiana merger, in which MTA listed stocks will migrate to the TradElect Platform, is expected to be completed later this year.
Fidessa’s trading solution combines member and non-member trading with powerful order management, fully integrated market data and sophisticated pre- and post-trading tools. Provided as a fully hosted and managed service, Fidessa offers direct access to TradElect and other markets for member firms as well as access to non-member markets through a network of 255 brokers offering Care, DMA and Algorithmic trading services for exchanges around the world.
“With our tried, tested and proven trading solution, Fidessa is ideally placed to provide access to the new platform for Borsa Italiana members. The sheer weight of TradElect users we already support speaks volumes for the quality of our offering. We can alleviate the migration pain for the Borsa Italiana market members, providing the flexibility of a fully hosted solution.” comments Simon Barnby, Fidessa’s global marketing communications director.
The Fidessa trading platform currently enables member trading on 92 global markets, including Borsa Italiana, LSE, Euronext, Xetra, SWX/Virt-X, Eurex, LIFFE, CME, SIBE, Saxess, MarkitBOAT, PLUS, Chi-X and DIFX. It also provides non-member trading across global markets via Fidessa’s global connectivity network. The network carries over 95 million messages a month covering DMA, care and algorithmic orders, Indications of Interest and FIX Allocations between around 1,500 buy-sides and 255 brokers across 92 exchanges worldwide.
The Fidessa product suite supports over 22,000 users at around 530 clients around the world, and is trusted by over 85% of global, tier-one equity brokers.
