PRESS RELEASE
Foreign Exchange algorithms integrated into Fidessa LatentZero’s Capstone Minerva™
London - 30 June 2008
Fidessa LatentZero™, one of the world’s leading providers of front-office software to the buy-side, today announced that Credit Suisse has become the first broker to have FX smart routing and algorithmic execution strategies integrated into the Minerva order and execution management system (OEMS) with AES FX. The deal further enhances Minerva’s position as a full-asset class trading platform, and ensures that Fidessa LatentZero’s FX-focussed clients can take advantage of the minimised workflow error, increased speed, and improved usability offered by the Minerva OEMS.
Chris Gregory, Head of Connectivity at Fidessa LatentZero said: “Algorithmic trading is no longer confined to the equity space, and the last twelve months in particular have seen algos expand into other asset classes, including FX, across all global markets. The Minerva OEMS continues to keep pace with market demand, ensuring that all our clients can select the most appropriate strategy to achieve best execution, and retain confidential order flow across their foreign exchange trading operations. We are delighted to be working with market leaders Credit Suisse.”
Jonathan Wykes, Head of AES FX in Europe at Credit Suisse, said: “AES FX has really taken off on the buy-side as well as the sell-side, and integrating our product with Fidessa LatentZero allows us to deliver our award winning strategies to clients without additional hardware or software infrastructure. The Minerva OEMS is widely used by some of our larger asset management clients around the world, and through this partnership we look forward to providing them with AES FX’s market leading algorithms and unique business model.”
This integration of FX algorithms into Minerva paves the way for the integration of algorithms from a variety of brokers. Fidessa LatentZero is dedicated to preserving the broker-neutral status of its applications, as well as ensuring that it offers a comprehensive, full-asset class solution to its clients.
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 95 million messages a month covering DMA, Care and Algorithmic orders, Indications of Interest and FIX Allocations between around 1,500 buy-sides and 255 brokers across 92 exchanges worldwide.
Head-quartered in London and with offices in New York, Boston, Tokyo, Hong Kong, Paris, Toronto and San Francisco, Fidessa group serves around 22,000 users across 520 clients globally. Fidessa group was founded in 1981, has revenues of $270m, employs over 1,100 people and has been fully listed (LSE:FDSA) since 1997.
Press Contacts
Melanie Smith
Fidessa LatentZero
msmith@latentzero.com
+44 (0) 20 7462 4232
Aspectus PR (PR Agency)
Alastair Turner
alastair@aspectuspr.co.uk
+44 (0) 20 7487 8443
