Financial technology provider Fidessa unveiled a new partnership program that aims to allow third-party services into Fidessa’s global trading workflow platform.
“Market participants have always recognized the role that technology can play in delivering value and demonstrating relevance to their customers. The challenge with this today, however, is that many new innovations need to be plugged directly into the traders’ workflow in order to be truly effective, compliant and resilient,” according to a Fidessa press statement.
“Fidessa recognized that its global distribution and workflow infrastructure could be used to curate and deliver third party applications as well as our own,” said Steve Grob, director of group strategy at Fidessa. He added, “Our role in this program is to evaluate and select the right partners that add real value and integrate their tools with Fidessa’s platform, data and community.”
The program is built around a technical framework that allows multiple third-party applications to work directly with Fidessa’s trading workflow software. These third parties can also leverage Fidessa’s infrastructure and global reach to provide “a unified trading experience.”
The first partner in this Fidessa program is OTAS Technologies, a market analysis solution provider.
“We are excited to have been selected as the first partner in this program”, comments Tom Doris, CEO of OTAS Technologies. “We have worked closely with Fidessa’s development, deployment and compliance teams as part of this initiative. This now positions us well for the next phase of our growth by providing a common lexicon for the industry to interpret trading performance across increasingly complex markets.”
Why OTAS? As James Blackburn, global head of sell-side equities product marketing, explained, “The OTAS tools form a key part of our optimised trading initiative and sit alongside our Order Performance Monitor. They provide traders with detailed market micro-structure analysis and the ability to drill down and understand why their orders are trading the way they are, as well as what factors might be influencing them.”
Blackburn added, “Going forward we will add more and more of these tools to further enrich and add value to the trading capabilities that we provide to our clients. This will ensure that the very best new financial markets technology, regardless of who builds it, will make its true impact felt on the trading desks of today and in the future.”