Fidessa Group said it will begin managing connections with brokers for investment managers.
The technology services firm said it is prepared to take over hosting and operations of the managers’ communications.
“We can completely take over the infrastructure,’’ said Megan Costello, president of Fidessa’s buyside business in North America.
Fidessa’s currently connects approximately 3,200 asset managers to 750 brokers across 200 venues, around the world.
In the managed service, the engines that generate Financial Information Exchange messages and the personnel that support that operation would be moved inside data centers that belong to Fidessa’s global networks.
This would allow the investment manager to concentrated on investing strategy, Costello said, and the firm’s core business.
Fidessa did not estimate the amount of savings that a manager could expect from moving the FIX engines and the operations of a network of FIX and non-FIX connections to brokers, onto the Fidessa infrastructure.
Fidessa said its network carries orders worth more than $950 billion each month.
Fidessa said one investment manager it could not name is preparing to adopt the managed service.
