Fidessa group plc (LSE: FDSA), provider of the Fidessa and Fidessa LatentZero solutions for the buy-side and sell-side, today announced that their systems’ interfaces with the NYFIX Euro Millennium dark liquidity pool are now live. Customers of Fidessa’s trading platform, as well as clients of Fidessa LatentZero’s Execution Management Service (EMS) and Order and Execution Management System (OEMS), Minerva, will now have direct access to a truly open European dark pool for listed cash equities. Fidessa users on both sides of the Atlantic can now access Euro Millennium and its US counterpart Millennium®.
Euro Millennium is open to all buy-side and sell-side market participants and offers a continuous matching pool, executing orders in accordance with client-determined profiles. The interface with the Fidessa and Fidessa LatentZero products will enable clients to seek out best price with minimal market impact.
Chris Gregory, Head of Connectivity Services at Fidessa LatentZero, said: “The addition of Euro Millennium is one component of our ongoing strategy to provide broker and venue neutral Intelligent Liquidity Access to buy-sides and sell-sides globally. The range of new venues including dark pools as well as MTFs and ATSs introduced with the implementation of MiFID offer different trading options to asset managers who are looking to manage their order flow in increasingly sophisticated ways.”
Steve Grob, Director of Strategic Partnerships at Fidessa, said: “As Euro Millennium is open to both the buy-side and the sell-side it was a natural partner for our overall Intelligent Liquidity Access strategy. The availability of access to Euro Millennium through the three Fidessa group products and our global connectivity network reinforces that strategy which is to make available all new venues to the buy-side and sell-side alike.”
Chris Smith, Director, NYFIX International said: “We’re excited that the Fidessa group client base now has direct access to Euro Millennium. We’re confident that the depth and breadth of liquidity in Euro Millennium will help these clients achieve their best execution objectives by ensuring minimal market impact and delivering price improvement.”
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About Fidessa group
Fidessa group is a world-leading supplier of multi-asset trading, portfolio analysis, decision support, investment compliance, market data and global connectivity solutions for both the buy-side and sell-side globally. Available as a simple workstation or as an integrated application suite, the Fidessa and Fidessa LatentZero product suites are built on the clear vision of providing the richest functionality, coverage and distribution to the financial markets community.
The Fidessa suite is used by 85% of tier-one, global equity brokers providing sophisticated trading, market data, order management and execution capabilities to all tiers of the sell-side.
The Fidessa LatentZero suite is used by the world’s largest asset management firms through to smaller specialist managers and hedge funds, and provides comprehensive portfolio analysis, real-time P&L, what-if analysis, investment compliance, order and execution management, and post trade processing tools, across all asset classes, to all tiers of the buy-side.
Fidessa’s global 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.
Head-quartered in London and with offices in New York, Boston, Tokyo, Hong Kong, Paris, Toronto and San Francisco, Fidessa group serves around 22,000 users across 520 clients globally. Fidessa group was founded in 1981, has revenues of $270m, employs over 1,100 people and has been fully listed (LSE:FDSA) since 1997.
www.fidessa.com
www.latentzero.com
For further information, please contact:
Simon Barnby
Fidessa
+44 (0) 20 7105 1250
simon.barnby@Fidessa.com
Jennifer Shay
Upstream Asia
+852 2973 0222
Jennifer.shay@upstreamasia.com