Treasury To Allocate Up to $5.6bln to Facilitate Liquidation of Reserve US Government Fund
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Treasury to Backstop Securities in Reserve Fund's US Govt Fund
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S&P/TSX Tumbles Below 8k Mark, Down 559 points
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Paulson - G-7 would not let systemically important institutions fail which resulted in a strategy that was implemented
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Bair: 'We Need to Give These Programs Time to Work'
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Bair: We're Making Steady Progress in Returning Money, Credit Mkts to More Normal State
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Paulson - economies have turned down around the world
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Paulson - talk of Depression is because we haven't seen this type of situation since then
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Paulson - getting credit flowing will be the key; when banks are lending, credit flowing, housing prices stablize we'll have a better economy
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Paulson - basis of new FNM, FRE rules based on FDIC's Indymac system
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Sen. Stabenow: At This Point, We Have Bipartisan Agreement
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Levin - leaders have put Congress in position of judging whether Automakers plan will lead to automaker viability
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Michigan's Levin - best approach is for Agency, not Congress, to look at plan
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Barclays Sees GE 2009 EPS at $1.60
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Given Abundant Skepticism, Congress Must Act Deliberately on Automakers --Frank
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'Yes, We're Kicking the Can Down the Road,' to Give Auto Relief Better Chance --Reid
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Holding a 'Bunch' of Failed Votes Wouldn't Send a Good Message to Country --Reid
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This is About Sustaining the Auto Industry --Pelosi
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We'd Like to Hear Their Ideas; Will Move Forward if Ideas Are Good --Dodd
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Must See Some Auto Restructuring; Path to Recovery --Pelosi
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Investec goes live with the Fidessa ? algorithmic tools

Royalblue (LSE:RYB), provider of Fidessa, has announced that Investec Securities (UK) has gone live with Fidessa's Pairs and VWAP algorithmic trading modules. Investec, a specialist banking group providing financial services in the London, South African and Australian markets, already uses Fidessa as its equity trading platform.

Investec is using Fidessa's Pairs trading tool to enable its traders to work on complex pair orders based on M&A, historical ratios or their own in-house models. The VWAP module supports VWAP, TWAP and Random Slice order slicing mechanisms and allows traders to customise levels of aggression and slice intervals. Both these tools provide improved efficiency for the business by allowing traders to handle a greater volume of algorithmic orders and focus their time on more complex trades.

Fidessa provides a comprehensive order management system with integrated market data and low latency exchange connectivity which interfaces with Investec's internal back-office system, facilitating real-time STP processing of all trades.

Trevor Gatfield of Investec Securities (UK), comments: ?We wanted algorithmic trading capabilities to reduce the cost of trading complex order types and guarantee best execution for our clients. Fidessa provided the best product for meeting these needs and also allowed us to leverage our existing investment in the platform. The integrated solution that Fidessa supplies also means we didn't have to glue together solutions from different vendors.?

The implementation was successfully achieved in one month as Investec needed only to extend its existing Fidessa system without changing any infrastructure or the back-office interfaces. The algorithmic modules are installed in London for users on the securities desk.

The VWAP and Pairs trading modules form part of Fidessa's algorithmic trading suite. Other modules available include list management and wave trading for supporting basket/program trading.

Philip Slavin, head of European product marketing at Fidessa comments: ?We are delighted to extend our partnership with Investec into our algorithmic trading offerings. As with our multi-asset capabilities, we chose to extend and build our algorithmic trading services within our own architecture in order to ensure that we end up with a totally integrated, high performance, resilient and low latency solution.?

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