Newedge has selected the Fidessa trading platform and order management system for its derivatives and equity trading business.
The first phase of this project, covering trading hubs in London and Chicago, is now live. Subsequent phases will see the platform rolled out across other hubs in Asia this year. The platform will provide Newedge with a multi-asset trading workflow solution across their front and middle-office operations - incorporating global order management, access to Newedge trading algorithms, FIX connectivity and smart order routing tools. Fidessa will also supply global market data as part of the deal, as well as low-latency gateways to access over 100 derivatives and cash equity markets. Fixed Income will be added to the platform in 2013.
Nicholas Garrow, global head of eSolutions at Newedge, comments: "We are extremely excited to be working with Fidessa to deliver a world class execution platform which will underpin the growth of our equities, futures and options business globally. Fidessa's sophisticated multi-asset workflow offering - including an integrated, multi-asset algorithmic trading engine and centralised pre-trade risk and monitoring tools - will play an integral role to deliver next-generation capabilities to our global clients spanning all asset classes."
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