Newedge has selected the Fidessa trading platform and order management system for its global derivatives and equity trading business.
The first phase of this project, covering trading hubs in London and Chicago, is now live, and the platform will be rolled out across 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,” said a statement from Fidessa.
Nicholas Garrow, global head of eSolutions at Newedge, commented: "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."
Stephen Barrow, global sales director at Fidessa, added: " We believe that the 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."
