Data Management

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U.K. Investment Firm Swaps Out Thomson for Fidessa

Ability to customize market data feeds led Brewin Dolphin to replace its market data workstations for 700 users across the U.K.

British investment management firm Brewin Dolphin, which manages 16 billion pounds of funds for over 130,000 private clients and has 39 offices throughout the U.K. and Channel Islands, has replaced its Thomson Markets market data service with Fidessa's Market Data Workstation. The new workstations have been deployed to more than 700 users at Brewin Dolphin throughout the U.K.

Lee Allen, head of electronic trading services at Brewin Dolphin, says he had to make a change when Thomson pulled the Thomson Markets product his firm was using in the course of Thomson's merger with Reuters and the subsequent winnowing of product lines. Although Thomson Reuters offered a different product to replace Thomson Markets, "we had a long-term relationship with Fidessa for our electronic trading platform, and we looked for continuity between that and our front office platform for investment managers," Allen says.

Four vendors, including Thomson Reuters and Fidessa, came in and ran similar demos for Brewin Dolphin. The difference came in when Fidessa showed an ability to offer bespoke pricing services. Brewin Dolphin's private client account executives, users of the market data service, each have their own private client base with unique needs. "One client might want live pricing in the New York market, somebody across the room might have a client who wants live pricing or live information from the Japan market," Allen says. Fidessa provides a customized set of feeds for each individual user. "That kind of bespoke service is rare in this industry," he says. Fidessa also provided trading during the six-month rollout.

According to Fidessa, its Market Data Workstation provides real-time international equity prices, world indices, sectors, derivatives, commodities and foreign exchange rates as well as financial news and market commentaries from Dow Jones. Users of the workstation also receive company background and fundamental data along with broker estimates and recommendations.

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