Fidessa Rolls Out Minerva Upgrade, Opens New North American Headquarters

Fidessa has upgraded its Minerva system, also opening a new North American headquarters, strategically located in Boston.

Fidessa Group plc has unveiled the latest iteration of its Minerva buy-side order management system (OMS), which helps streamline post-trade capabilities across all asset classes, among other functions, according to a Fidessa statement.

Minerva is part of the group’s existing Investment Management Solutions suite, catering to asset managers – the system itself also targets end-to-end workflow methodology for investment decisions, compliance, orders, and trading. Minerva sits within Fidessa’s Investment Management Solutions suite, which provides asset managers with comprehensive, end-to-end workflow for investment decision, compliance, orders, trading and post-trade across all asset classes.

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In addition, the latest Minerva upgrade includes provisions for enhanced order handling capabilities across futures, options and swaps, as well as comprehensive support for Latin American interest rate futures and more specified fixed income trading functionality.

Coming to Boston

In a parallel announcement, Fidessa has also expanded its operations by opening a new North American headquarters for its buy-side business in Boston. The move illustrates Fidessa’s efforts to bolster its buy-side sales capabilities across the continent, having placed the new office strategically near several regional hubs.

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Furthermore, Fidessa has also revamped its buy-side sales function across North America to help satiate the evolving demands of the marketplace. Consequent to the growing demands necessitated by the market, the overall buy-side sales function are slated to become a larger part of the larger Fidessa Group Americas sales organization.

Per the office’s opening, Doug Abere will be heading up Account Management in North America – he will help steer the group by leading its team there, which will bring a renewed focus to the buy-side client base and as well as an active role in supporting strategic initiatives. By extension, Paul Neumaier, a Fidessa mainstay, will be heading the American New Business Sales team.

According to Megan Costello, President of Fidessa Buy-side in North America, in a recent statement on company upgrades: “We have invested heavily in our entire buy-side product suite in recent years, from our investment decision tools, through our powerful order generation and management solution Minerva, to compliance and post-trade.”

“This latest version of the Minerva OMS delivers new, sophisticated functionality and ensures firms can trade across multiple regions with a centralized book and accommodate the most demanding and sophisticated workflow requirements on a desk-by-desk basis,” she added.

“Strengthening our sales function and expanding to a new office in the region clearly demonstrates our continued commitment to the buy-side space. In tandem with our rapidly growing product set, we will continue to meet the evolving needs of our client base as well as grow our share of the buy-side marketplace,” she noted.

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