Fidessa Launches Smart Routing Service for Canada's Pure Trading

    TORONTO, Oct. 29 /CNW/ -- Fidessa group plc (LSE: FDSA) today announced
the recent launch of its Smart Routing Service for the Canadian capital market
    The addition of smart routing to Fidessa's Canadian Trading Platform
(CTP) was coordinated with the launch of continuous auction trading at Pure
Trading, the first Canadian displayed market alternative to the Toronto Stock
Exchange. The smart routing enhancement within CTP offers brokerage clients an
advanced solution for achieving best execution in a market system with
multiple displayed quotes. Additional displayed markets, now under
development, will further drive the need for smart routing in Canada's capital
market system.
    Some of the key features Fidessa CTP offers brokers include: consolidated
market data displays, an advanced "point and shoot" capability which allows
traders to hit multiple orders regardless of the exchange on which they
reside, and enhanced electronic order audit trails so traders can develop
historical execution data for each exchange.  Furthermore, Fidessa CTP has the
advantage of providing firms with a single, robust trading platform, as
opposed to multiple trading applications, which might result in slower
executions and inferior prices.
    "We have worked diligently with Pure Trading in anticipation of their
launch and, through working closely with our customers, we've been able to
provide them with the readiness needed to trade in the new Canadian capital
markets. We have also had the added benefit of being able to leverage
Fidessa's experience and expertise in the US, where multiple marketplaces have
existed and matured over several years," said Ronald Lee, head of Fidessa
Canada.  "As the concept of having multiple execution points continues to
evolve in Canada, so will Fidessa CTP," adds Lee.
    Fidessa CTP combines electronic order and execution workflow along with
real-time, multi-currency trading, position keeping and reporting.  Fidessa
CTP's advanced trading tools include: Pairs trading, List Management and Wave
trading tools along with Fidessa BlueBox;  Fidessa's algorithmic management
system (AMS) that is totally integrated within the Fidessa OMS. Comprehensive,
integrated real-time, market data is seamlessly integrated into Fidessa CTP
and includes fundamentals, charts and historical trade time and sales
    "We are looking to adapt and implement more of these advanced trading
features that our US counterparts are already used to," Lee said. "This will
give our customers a tremendous advantage over other firms that are using
different vendor applications to reach Canada's new exchanges.
    Fidessa is used by wide spectrum of brokers, from major investment banks
to specialist niche players and serves over 16,000 users at 500 institutions
worldwide.  Fidessa's connectivity network provides links to over 1,300 buy-
side institutions, 230 brokers and 83 exchanges globally.
    About Pure Trading:
    Pure Trading is the first alternative market in Canada to offer a visible
auction market, offering a high capacity/low latency trading environment,
combined with an extremely attractive fee structure. Pure Trading enables the
Canadian trading community to use emerging trading technologies to their full
advantage, while delivering cost savings enhancing the competitiveness of the
Canadian markets.
    About Fidessa Group:
    Fidessa group is a world-leading supplier of multi-asset trading,
portfolio analysis, decision support, investment compliance, market data and
global connectivity solutions for both the buy-side and sell-side globally.
Available as a simple workstation or as an integrated application suite, the
Fidessa and Fidessa LatentZero product suites are built on the clear vision of
providing the richest functionality, coverage and distribution to the
financial markets community.
    The Fidessa suite is used by 85% of tier-one, global equity brokers
providing sophisticated trading, market data, order management and execution
capabilities to all tiers of the sell-side.
    The Fidessa LatentZero suite is used by the world's largest asset
management firms through to smaller specialist managers and hedge funds, and
provides comprehensive portfolio analysis, real-time P&L, what-if analysis,
investment compliance, order and execution management, and post trade
processing tools, across all asset classes, to all tiers of the buy-side.
    Fidessa's global network carries over 50 million messages a month
covering DMA, Care and Algorithmic orders, Indications of Interest and FIX
Allocations between over 1,300 buy-sides and 230 brokers across 83 exchanges
    Head-quartered in London and with offices in New York, Boston, Tokyo,
Hong Kong, Paris and Toronto, Fidessa group serves over 16,000 users at around
500 clients globally. Fidessa group was founded in 1981 and acquired
LatentZero in 2007. Fidessa group has revenues of $250m, employs over 1,000
people and has been fully listed (LSE: FDSA) since 1997.
    Fidessa(R) is a registered trademark of Fidessa Group plc
    All product and company names herein may be trademarks of their
registered owners.

For further information:

For further information: Lida Preyma of Pure Trading, +1-416-572-2000 ex
 2285,; or Martin Hakker of Fidessa, +1-212-520-3697,; or Marc Weinstein of Spring O'Brien, for Fidessa, 
+1-212-620-7100, Web Site:    

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890