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Fidessa group plc (LSE:FDSA), provider of award-winning trading systems, market data and global connectivity for the buy-side and sell-side, today announced that RS Platou Markets, the investment banking arm of RS Platou Group, has selected its Software as a Service (SaaS) sell-side trading platform.
The Oslo-based brokerage firm will be using Fidessa to underpin its global trading operations including connectivity to a number of MTFs. Fidessa's sophisticated smart order routing capabilities were a significant factor in RS Platou's decision, as was the brokerage's move into algorithmic trading which is now supported by Fidessa's fully integrated algorithmic trading engine, BlueBox.
Preben Sohlberg and Magnus Halvorsen, Co-heads of Equity Sales at RS Platou, commented: "After thorough investigation, RS Platou Markets AS decided to sign an agreement with Fidessa. The rationale behind our decision was that Fidessa offered a SaaS solution that fitted our needs allowing us to focus on our core competence. In addition, Fidessa offered access to a large buy-side network that is in line with our profile and provided a platform that will allow us to service our global network."
Mark Holden, New Business Sales Manager for Fidessa in the region, added: "Fidessa’s SaaS solution reduces the costs and risks associated with maintaining connectivity to the growing number of liquidity venues globally. We have been active in the Nordic region for some time and it continues to be a key focus for us as our technology is proving such a good fit with clients’ needs here."
"The opportunity to have a fully flexible, SaaS solution for connecting to multiple markets and MTFs, coupled with Fidessa’s reputation for functionally-rich, reliable technology, is proving very compelling. We look forward to developing our client relationships further in the region over the coming months," continued Holden.
Fidessa’s products serve 26,000 users across 900 clients around the world and are used by more than 85 per cent of tier-one financial institutions. Fidessa's connectivity network is one of the world's largest and most diverse trading communities, linking 2,400 buy-side institutions, 550 brokers and more than 140 markets across EMEA, Asia Pacific and the Americas. In the first half of 2010, Fidessa’s network increased its traffic by 28% and now carries executed order flow of around $700 billion each month.
