Nomura chooses Fidessa’s trading platform for its global derivatives operation
In keeping with the trend wherein both buy side and sell side institutions are adopting technology solutions across the entire life cycle of the trading process, Fidessa Group PLC (LSE: FDSA) has announced that Nomura has chosen its trading platform for its global futures and options trading activity. In addition to the market data and execution connectivity to major derivatives market centers, Nomura will also be utilizing Fidessa’s functionality which provides a unified, seamless view into risk management, compliance and reporting functions. The global solution will be deployed in the US and Europe in early 2013 and in Asia Pacific thereafter.
Many large institutions have transitioned to using enterprise-wide solutions that span across multiple assets classes and multiple functions within the trading ecosystem. Simple order management systems (OMS) have evolved to include not only front end execution functionality, but also middle office and other work flow (e.g. risk management) considerations. Technology vendors, such as Fidessa, are increasingly finding that clients are looking for widely applicable solutions. This need is driven by regulatory changes, market structure dynamics and simple firm economics that require solutions that work across the trading infrastructure as opposed to one-function, one-solution paradigms.
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Michelle Neal, Global Head of Electronic Markets, Futures & Options and Derivatives Clearing at Nomura, stated: “Regulations are reshaping the derivatives markets, and it is essential that we have a world-class technology infrastructure to meet these new requirements on behalf of our clients. Fidessa is known for the strength and sophistication of its order management system. Having its robust technology to support our derivatives trading activity will help us deliver market-leading results for our clients.”
Stephen Barrow, Global Sales Director at Fidessa, added: “The strengths of our multi-asset platform are completely aligned with the changes affecting the futures and options industry. The convergence of OTC flow and exchange-traded activity increases the need for systems that can handle complex workflow and fragmented markets: capabilities that are central to our solution and that we have honed over a number of years. This functionality and understanding, coupled with our robust global infrastructure and proven capacity to run large-scale derivatives systems, is fuelling significant interest in our technology across the globe.”
According to the firm, Fidessa’s multi-asset trading solutions serve more than 25,000 users across 950 clients around the world. The Fidessa FIX connectivity network carries over $10 trillion of order flow annually and connects 2,900 buy-sides to 700 brokers across 200 markets globally.