David Polen, Fidessa
New York - Fidessa group has announced the launch of its new low-latency DMA platform that provides brokers with access to global equity and derivatives markets. Delivered as a managed service, the platform can help firms reduce cost and improve efficiency by outsourcing the commoditized aspects of their market access infrastructure.
David Polen, global head of Electronic Execution at Fidessa, comments: "In Europe alone there were 175 markets registered at the end of 2007 and this has risen to around 280 today. Including the 60 or so markets that have come and gone in-between, that's more than 160 new venues - nearly double in just seven years. Just managing the mandatory upgrades across these markets is a resource-intensive overhead for any firm. In the US, the picture is further complicated by the existence of hundreds of different order types, while in Asia firms struggle with multiple trading and regulatory regimes. Keeping abreast of all this is an expensive proposition for brokers. And one that does not differentiate their service."
Besides low-latency market access, the new service also includes frameworks around SOR, internalization, algo trading and risk management. These can all be integrated into a firm's own systems and are available as a complete service or as separate modules, enabling them to offer a tailored, differentiated service to their own clients in a cost-efficient manner.
"Central to the managed service is Fidessa's new global infrastructure that will underpin all our sell-side products", continues Polen. "It is hosted in co-lo and proximity datacenters around the world and delivered through dedicated, private infrastructure allowing complete control and fine-tuning of the hardware and connectivity to offer the optimum levels of service. As a result, we are able to provide a combination of functionality and performance that other vendors are simply unable to match - all managed and monitored in real-time and backed up by stringent SLAs and KPIs."