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Fidessa Expands Buy Side Connectivity Service

The platform now offers full infrastructure outsourcing —including FIX and non-FIX-based connectivity— to buy side customers as they grapple with the complexity of running technology infrastructure for multi-asset trading and the operational needs of new regulations.

Fidessa group has revamped its buy-side connectivity service to now cover all hosting, management and operational aspects of a firm's Financial Information Exchange (FIX) and non-FIX based connectivity and infrastructure, the company said today.

While Fidessa has operated a global network providing buy side firms with connectivity for many years, the new service enables firms to concentrate on their core business and outsource their complete connectivity infrastructure to Fidessa.

"Buy-side firms are operating in an ever-more challenging world, with a seemingly constant flow of new regulatory requirements coupled with an increasingly complicated pre-trade, at-trade and post-trade landscape," commented Megan Costello, President of Fidessa's North American Buy-side Business in the company's release. "Access to a broad range of multi-asset broker services, hubs, crossing engines and post-trade systems all around the world is now commonplace, but it brings with it the need to implement and run a highly complex technology infrastructure."

Citing challenges facing the buy side in the post-financial crisis environment as well as the complexity of multi-asset trading and shorter-settlement cycles, which necessitate different operating models.

According to Costello, buy side firms can rely on Fidessa to look after all of their connectivity needs, including proprietary and third party systems, and offload the responsibilities that come with running and managing FIX and Non-FIX based technology. "This provides the buy-side with a simple, cost-effective solution that allows them to operate globally and across multiple asset classes without the hassle of maintaining their own infrastructure."

Costello added, "This provides the buy-side "with a simple, cost-effective solution that allows them to operate globally and across multiple asset classes without the hassle of maintaining their own infrastructure."

The service makes use of Fidessa's existing expansive network of global data centers and hosting capabilities. The global network connects approximately 3200 buy-sides to 750 brokers across 200 execution venues covering equities, fixed income and FX. It is compatible with both FIX and proprietary Non-FIX message types, and carries order flow of more than $950 billion each month. It also includes an advanced suite of testing and simulation tools, comprehensive operational reports and a seamless connectivity experience, regardless of asset class or region. Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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