Fidessa Signs ABN AMRO Clearing for Global Execution Platform
Fidessa.com – New York – Fidessa group plc (LSE: FDSA) today announced that it has signed a contract to provide cross-asset execution services to ABN AMRO Clearing (AAC). This allows AAC to offer its clients low-latency access to more than 110 futures, options, equities and FX markets worldwide via a globally consistent interface, delivered out of 11 key locations around the world.
AAC is one of the world’s leading providers of clearing and financing services, handling over 16 million trades per day and covering the world’s leading exchanges across Europe, the Americas and Asia Pacific. AAC consistently ranks among the top three clearers in every time zone, based on turnover and market share.
Prior to this deal, AAC utilised numerous ISV gateways and in-house systems. Fidessa’s new service will intermediate execution from these ISVs, preserving freedom of choice whilst increasing efficiency. For the past 3 years, Fidessa has been investing heavily in both its infrastructure and its execution technology stack, culminating in the development of a fully-managed, cross-asset platform with global reach and routing that insulates brokers from the ever-changing trading landscape.
“After a broad RFP process and thorough due diligence effort, Fidessa came up as the most suitable partner for AAC”, said James Fairweather, Head of Global Execution Services at AAC. “Their global offering and professional approach are a perfect fit for the AAC global clearing proposition and strategy.”
David Polen, Global Head of Electronic Execution at Fidessa, added: “We are committed to delivering globally consistent and performant trading systems. AAC selecting Fidessa is a great endorsement of our technology. We are delighted to be working with them to deliver the global routing, visibility and risk management that they need on a cross-asset trading platform.”
Fidessa was voted Best Front Office Execution Platform for the second year running at the Waters’ Sell-Side Technology Awards in April, the seventh award for the firm’s sell-side platform in the past twelve months.
Overall trading volumes across all products fell 8% from 2020.
Klimpel won Excellence in Human Clearing at Markets Media Group’s 2021 Women in Finance (U.S.) Awards.
Expansion to buy side increases multilateral netting opportunities for members.
RQD said it offers the first clearing platform built entirely on cloud-native, real-time technology.
The change gives FXall users streamlined clearing of NDF trades through LCH ForexClear.