04.06.2016

Fidessa and Alpha Omega partner to offer one-stop-shop for post-trade

Fidessa Partnership Program extended to drive further momentum in post-trade arena

April 6, 2016 – Fidessa group plc (LSE: FDSA) today announced it has signed a partnership agreement with Alpha Omega that will leverage Fidessa’s post-trade Affirmation Management Service (AMS). This utility provides alternative low-cost affirmation processing to Fidessa’s extensive community of buy-sides and sell-sides world-wide.

Alpha Omega was one of the early pioneers to provide FIX-based solutions for affirmation processing through its comprehensive FIXAffirm® post-trade service. Having established a strong buy-side presence, Alpha Omega recognised the scale advantage of accessing the entire sell-side community through a single conformance to Fidessa’s AMS utility, which will simplify and reduce significantly the time taken to on-board customers.

Fidessa has established AMS as a credible alternative industry utility to central matching, and is leveraging Alpha Omega’s affirmation workflow and integration expertise to extend its reach within the asset management community to firms using third party OMS platforms. This partnership effectively unites the Alpha Omega customer base with the Fidessa AMS community.

David Pearson, Head of Post-trade Services at Fidessa, commented: “The AMS utility is all about helping the industry achieve its need for lower cost and more efficient affirmation processing. By partnering and collaborating with Alpha Omega, we strengthen that vision and accelerate the growth of our global network.”

Kamal Duggirala, Chief Executive Officer of Alpha Omega, added: “We are delighted to partner with Fidessa and seamlessly connect our asset manager clients to Fidessa’s broker/dealer community for trade confirmation/affirmation. We believe that this partnership is a significant step forward in making the adoption of FIX-based, post-trade processing easy and cost-effective.”

The two firms have also agreed to collaborate on other asset classes, including derivatives, in the near future. This will ensure that the trading community will ultimately be able to use one single industry utility for all its post-trade processing, regardless of asset class.

Steve Grob, Director of Group Strategy at Fidessa, concluded: “This deal ticks a number of boxes for us – extending our presence in the post-trade space, leveraging distribution with specialized third parties and bringing further value to the Fidessa community. We are looking forward to working closely with Kamal and his team to take advantage of our respective strengths.”

About the Fidessa Partnership Program

The Fidessa Partnership Program allows financial technology companies to access its global community of clients through tight integration with the business workflows provided by its award-winning trading platforms.

Working in true partnership with those new and established technology companies who present the most compelling tools and content for its trading platform users means Fidessa can enable thousands of institutional professionals globally to access the very best innovations, trading tools and new data sets.

The Partnership Program puts partners’ technology and data at the heart of the Fidessa ecosystem and presents an unrivalled opportunity for them to reach new customers and carve out new revenue streams while significantly lowering costs. Partners also benefit from Fidessa’s relationships across the industry and its proven track record of delivering the very best trading platforms.

Working with partners who share Fidessa’s vision for the best trading screens of the future will help deliver its vision of optimal functional design for real-time workflow professionals, while maintaining excellence in operational standards, reliability, accuracy and privacy.

About Fidessa Group 

Exceptional trading, investment and information solutions for the world’s financial community.

New technology, new regulation, new challenges: making money in today’s financial markets is all about staying ahead of the curve. Having the capability to spot new trends and act fast turns change into opportunity. That’s why 85% of the world’s premier financial institutions trust Fidessa to provide them with their multi-asset trading and investment infrastructure, their market data and analysis, and their decision making and workflow technology. It’s also why over $20 trillion worth of transactions flow across our global network each year. Because we’re the market leader, we can also offer unique access to the world’s largest and most valuable trading community of buy-side and sell-side professionals, from global institutions and investment banks to boutique brokers and niche hedge funds.

Fidessa is a global business with scale, resilience, ambition and expertise. We’ve delivered around 25% compound growth since our stock market listing in 1997 and we’re recognised as the thought leader in our space. We set the benchmark with our unrivalled set of mission-critical products and services and, uniquely, serve both the buy-side and sell-side communities. Ongoing investment in our leading-edge, integrated solutions ensures Fidessa remains the industry’s number one choice.

fidessa.com

About Alpha Omega

Founded by prominent industry veterans, Alpha Omega provides innovative technology to make the post-trade process more efficient and cost-effective for the investment management industry. With over five decades of experience in portfolio management, trading and post-trade processes, Alpha Omega is uniquely positioned to bring advanced FIX-based technology to asset managers and broker/dealers. The company’s flagship product, FIXAffirm®, connects counterparties to deliver fully automated allocation, confirmation and affirmation of trades for equities and fixed income securities.

For more information, please visit www.ao-fs.com.

For further information, please contact:
Simon Barnby
Fidessa
+44 20 7105 1250
simon.barnby@fidessa.com

Jed Hamilton
Aspectus PR (PR agency)
+1 646 202 9842
jed.hamilton@aspectuspr.com

Fidessa® is a registered trademark of Fidessa group plc.
All product and company names herein may be trademarks of their registered owners.

Related articles

  1. T+2 May Lead to More Failed Trades

    Industry survey shows data and technology challenges in the middle offices of banks and brokers.

  2. Daily Email Feature

    T+1: A Double-Edged Sword?

    The move to T+1 may impact financial services firms more than T+3 or T+2 did.

  3. There's an opportunity for firms to reduce costs and inefficiencies in post-trade, Laurence Jones of CME Group...

  4. Intelligently Automating Trade Workflows

    Companies say the solution transforms post-trade workflow via process, product, and data integration.

  5. Multi-Asset Traders Looks to Future(s)

    As ASX moves to replace CHESS, market participants look to what else the technology can deliver.