Fidessa expands multi-asset clientele with Newedge win

Fidessa has become the latest investment software vendor to expand the reach of its multi-asset activities, as it was selected by broker Newedge for its global equity and derivatives trading.

Newedge will use Fidessa’s trading platform and order management system as a system to manage multi-asset workflow in its middle- and front-office, in over 100 markets.

The move comes as multi-asset strategies continue to dominate in popularity among fund managers and their clients.

European fund sales statistics from Lipper for April showed asset allocation products took in €1.6bn of net new business – the third most popular strategy. Ed Moisson, Lipper’s head of UK and cross-border research, added: “Asset allocation products continue to dominate this arena this year, with sales of €4.5bn”.

Against this background, rival analytical software firms are also helping practitioners marry middle- and front offices engaged in multi-asset trading.

Axioma’s system is busy helping some clients unify the view of ‘risk’ in their middle- and front-offices, across equities, bonds, commodities and derivatives.

Fidessa’s adoption by Newedge has been application of Fidessa’s system to trading hubs in London and Chicago, with Asia to follow later this year. Functionality for fixed income is expected to be added to the platform next year.

The Fidessa system incorporates global order management, with access to Newedge trading algorithms, FIX connectivity and smart order routing tools.

Nicholas Garrow, global head of eSolutions at Newedge, said the selection of Fidessa would help “underpin the growth of our equities, futures and options business globally.

“Fidessa’s sophisticated multi-asset workflow offering…will play an integral role to deliver next-generation capabilities to our global clients spanning all asset classes.”

Stephen Barrow, global sales director at Fidessa, said: “Firms that can harness the regulatory momentum that is bringing together the worlds of OTC and exchange-traded derivatives will have a significant competitive advantage. Newedge and Fidessa share the same vision as to how this can be achieved through smarter workflow, integrated risk management and compliance, and streamlined execution.”

 

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