Fidessa group plc (LSE: FDSA), provider of the Fidessa and Fidessa LatentZero trading, market data and global connectivity solutions, today announced that it has partnered with Omgeo, the global standard for post-trade efficiency, to offer users of the Fidessa hosted trading platform in Europe real-time connectivity to Omgeo OASYS Global, the electronic trade allocation and confirmation solution for brokers/dealers, investment managers and custodian banks around the world.
With Omgeo OASYS Global, broker/dealers can send block confirmations directly to their clients and receive allocations electronically, enabling them to automatically send contract notes for affirmation of trade data. The trade processing system is always online with the host, ensuring immediate delivery of trade details and allocations, even during peak volumes.
Fidessa has partnered with Omgeo to provide a bureau service for its hosted platform customers in Europe delivering easy access to real-time trade allocation and confirmation services via a direct interface between the Fidessa Middle Office and Omgeo OASYS Global.
Previously, firms wishing to connect to Omgeo OASYS Global would run a batch process through an Omgeo OASYS Global workstation. With the new European bureau service, Fidessa customers will benefit from a direct and real-time connection.
Simon Powell, Regional Manager, Global Alliances, Omgeo, commented: “Partnering with Fidessa allows our mutual clients to easily realise the benefits of Omgeo OASYS Global Direct and a more streamlined post-trade environment. In today’s volatile global markets, the minimisation of operational risk and the associated time and cost savings are critical factors for instilling confidence in the supporting infrastructure and the community as a whole. Through Fidessa’s bureau service many more banks and brokers out there are benefiting from these efficiencies.”
Fidessa’s fully integrated Middle Office solutions enable customers to maximise straight through processing and reduce operational risks associated with the manual processing of allocations and confirmations. Fidessa's hosting centres support nearly 70 European banks and brokerage firms. The rationalisation of customer connectivity in this way means that Omgeo OASYS Global connectivity is available to them at the "flick of a switch".
Trevor Brown, Head of European Marketing, Hosted Services, Fidessa, added: “We’re delighted to be working with Omgeo to provide this service for our users. By managing the connectivity ourselves we are able to deliver the benefits of scalability which leverages real-time connectivity to Omgeo OASYS Global across a robust and reliable infrastructure. This gives our customers the ability to provide an improved level of service to their clients.”
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About OmgeoSM
Omgeo creates certainty in post-trade operations through the automation and timely confirmation of the economic details of trades executed between investment managers and broker dealers. Every day Omgeo enables an efficient community of more than 6000 financial services clients in 45 countries to manage matching and exception handling of trade allocations, confirmations, and settlement instructions. Leading organizations rely on Omgeo to help manage an increasingly complex investment industry by providing operational stability and solutions that complement the focus on profitability in an era of escalating trade volumes. Across borders, asset classes, and trade lifecycles, Omgeo is the global standard for operational efficiency across the investment industry. Formed in 2001, Omgeo is jointly owned by the DTCC and Thomson Reuters.
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
Fidessa® is a registered trademark of Fidessa Group plc
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