Fidessa Launches New Trade Analysis Suite
Traders Magazine Online News, January 20, 2012
Fidessa Group announced yesterday the launch of a new suite of analysis tools aimed at enabling sellside firms to better manage their trades. The new product is expected to be upgraded later this year and available in real time.
Dubbed Fidessa Intelligence, the system is part of a new generation of trade-cost analysis tools designed to make traders better informed and more effective at reaching their goal of getting the best price.
Justin Llewellyn-Jones, chief operating officer of Fidessa’s U.S. business, said the suite combines traditional TCA with real-time analytics and the ability to identify actionable data.
Justin Llewellyn-Jones
“Although cost is forefront of everyone’s mind right now, we wanted to take it beyond simply reducing costs,” Llewellyn-Jones said. “We wanted to push it into the revenue-generating space as well.”
Though Fidessa started with alerting traders to data points and events that could help them to reduce costs, it wanted to also give traders the same kind of information around potential revenue opportunities, he said.
The first of the new tools, Trader Intelligence, is now available to sellside firms in the United States, while Fidessa is rolling out the post-trade TCA component of the suite in Europe. Both tools will be available in the U.S. and Europe by year’s end, and Fidessa plans on later offering similar tools for the buyside.
Trader Intelligence was designed to help brokers capture, organize and display actionable information from various sources, including market and trading data, indications of interest and execution cost analysis. It is integrated into Fidessa’s sellside order management system.
The tool also provides integrated news and block trade data to help traders identify market-moving events, with the option to include shareholder information and other publicly sourced data into the sales trader’s blotter.
Though Trader Intelligence is not yet able to perform analysis in real time, Fidessa expects to add real-time functionality in late March or early April.
Sabrina Segatta, product manager for Trader Intelligence, said traders today are bombarded with high-volume data at a time when they are also being asked to reduce costs. Traders are asking for tools that deliver relevant, targeted information and enhance their customer service, she said.
Future additions to the Fidessa Intelligence suite will include tools to interpret trading performance, benchmark post-trade performance and provide broker-neutral measures of execution quality.
Steve Grob, group strategy director at Fidessa, said in a statement that firms need to manage costs while also developing a competitive edge. Understanding how trades really perform will make it easier for them to maximize efficiency and improve client service, he said.
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