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Fidessa

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Fidessa Group plc
Company typePublic limited company
LSE: FDSA
IndustrySoftware
Founded1981
HeadquartersLondon, United Kingdom
Key people
John Hamer (Chairman of the board)
Chris Aspinwall (CEO)
ProductsTrading systems, market data
Revenue£279 million (2013)[1]
£42 million (2013)[1]
£32 million (2013)[1]
Number of employees
1,671 (2013)
Websitewww.fidessa.com

Fidessa Group plc is a British-headquartered company which provides software and services such as trading systems to clients in the financial services sector. The firm also provides market data and related services to buy side and sell side financial services customers.

The company is headquartered in Woking with offices in London, New York, Chicago, Boston, Tokyo, Hong Kong, Paris, Toronto, San Francisco, Belfast, Singapore, Bahrain, Sydney and São Paulo. It is listed on the London Stock Exchange and is a member of the FTSE 250 Index.

History

The Company was originally founded in 1981 as Intercom Data Systems (IDS): it was later renamed royalblue Group plc,[2] and consisted of two separate operating divisions, royalblue Financial and royalblue Technologies. royalblue Financial concentrated on the financial trading platform that has become Fidessa today, and royalblue Technologies centred around two separate products - rostrvm,[3] a call centre technology platform, and HelpDesk for Windows. It has been listed on the London Stock Exchange since 1997.[4] In 2001 the company divested itself of the Technologies division and focused entirely on the Financial business.

With the group's core trading platform, Fidessa, being better known in the market place, the Royalblue Group plc changed its name to Fidessa Group plc following shareholder approval at the AGM held in April 2007.[5] The change of name took effect on 1 May 2007.

In April 2007 the company also bought out the privately owned buy side trading provider LatentZero.[6] This was then rebranded as Fidessa LatentZero.[7]

In November 2008, Fidessa launched its Fidessa Fragmentation Index (FFI).[8] This helps to show how fragmented stocks are across exchanges following the MiFID European landscape. Since its inception it has highlighted as one of the most interesting technical developments in the financial sector in 2008 by Finextra.[9] The FFI project was extended in November 2009 with the launch of the award winning Fragulator.[10] In April 2011 Fidessa launched the Tradalyzer that provides detailed trading analysis.[11]

Operations

Market penetration

Around 70% of all securities transactions in London are handled by Fidessa systems.[12]

Products

Fidessa

A sell-side suite used by 85% of the tier one global equity brokers.[13] It provides trading, market data, order management and execution capabilities.

A buy-side suite comprising three main products: Minerva, Sentinel, and Tesseract. Sentinel is used by 8 out of 10 of the largest global asset managers for pre-trade and post-trade compliance checks. It was named Buy-Side Product Of The Year in 2008 and 2009.[14] Minerva is an Order Management System (OMS), and provides trading, order management, portfolio modelling and execution capabilities. Tesseract is a portfolio management tool.

FIX Network

In addition to a trading platform, Fidessa hosts a broker neutral FIX-enabled execution network. This has a large number of brokers connected to it and is similar to other inhouse FIX networks, such as the LSE Hub, the SunGard Transaction Network (STN) and Thomson Reuters subsidiary TradeWeb's Autex Trade Route.

Clients

Fidessa's clients tend to be mid to large size financial institutions.

References

  1. ^ a b c "Preliminary Results 2013" (PDF). Fidessa. Retrieved 2014-02-17.
  2. ^ Royalblue Group Forbes, 2000
  3. ^ Rostrvm Solutions: Website
  4. ^ Fidessa: Corporate
  5. ^ "Royalblue to change name, looking for acquisitions". Reuters. 12 February 2007.
  6. ^ Royalblue to acquire LatentZero press release, 17 April 2007
  7. ^ Bobsguide - Fidessa Latentzero Minerva Oems Provides Access To Fx Connect
  8. ^ Fidessa Fragmentation Index (FFI)
  9. ^ Fidessa fragmentation index recognised as major innovation
  10. ^ Fragulator
  11. ^ Fidessa unveils Tradalyzer in Canada Automated Trader, 17 August 2011
  12. ^ Sandle, Paul (16 February 2009). "Fidessa beats FY forecasts, sees 2009 growth". Reuters. Retrieved 2009-03-13.
  13. ^ About Fidessa
  14. ^ Sentinel and EMS Workstation take top awards at Buy-Side Technology Awards
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