Fidessa group plc will provide cross-asset execution services to ABN AMRO Clearing (AAC). This deal 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 locations around the world.
AAC is a provider of clearing and financing services that handles more than 16 million trades per day. It alsom covers the worlds leading exchanges across Europe, the Americas and Asia Pacific. AAC claims to rank among the top three clearers in every time zone, based on turnover and market share.
Prior to this deal, AAC relied on numerous ISV gateways and in-house systems.
Fidessa’s new service will intermediate execution from these ISVs as it aims to increase efficiency. For the past three years, Fidessa has been investing 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, according to company claims.
“After a broad RFP process and thorough due diligence effort, Fidessa came up as the most suitable partner for AAC”, saidJames Fairweather, Head of Global Execution Services at AAC.
He added, “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, said: “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.”