Fidessa Launches New BlueBox Algorithms Designed for Brokers in the Canadian Market

Fidessa group plc (LSE:FDSA) the world leading provider of trading systems, market data and global connectivity, today announced that it has added three new execution algorithms to its BlueBox strategies suite in Canada. The new algorithms, Invisible, Price Improvement (PI) and Shadow complement Fidessa’s existing algorithms that include VWAP, TWAP, POV and Arrival.

The new algorithms are fully integrated within Fidessa’s Canadian trading platform and available immediately. Each algorithm is designed to help drive trading performance through greater automation and lower transaction costs while finding liquidity in Canada’s increasingly fragmented market.

Martin Hakker, EVP Marketing at Fidessa, comments, “Canada is the fourth region to go live with Fidessa’s BlueBox algorithms following the US, Europe and Japan. This is testament to the scalability and integration capabilities of Fidessa’s core architecture globally and the flexibility of the BlueBox framework that offers algorithmic developers a cost-effective, functionally rich, technical environment to efficiently develop, deploy and control proprietary algorithms.”

The Invisible algorithm is an aggressive strategy designed to access all available liquidity within a trader’s pre-defined price and size requirements. The algorithm will seek out market opportunities and automatically sweep displayed markets when triggered, while remaining hidden during unfavorable market conditions.

PI and Shadow are both passive pegging algorithms that maximize execution rates at the most favorable market prices. The algorithms utilize complex randomization techniques to minimize exposure to popular gaming practices.

Hakker adds, “As fragmentation continues to evolve and trade volumes rise, our Canadian clients are increasingly demanding advanced trading solutions for executing into the market. These new strategies enable our Canadian clients to optimally execute their order flow with both passive and aggressive strategies.”

BlueBox enables firms to quickly move into the algorithmic trading space by leveraging Fidessa’s industrial-strength algorithms within a hosted environment. Designed with maximum flexibility, BlueBox allows traders to build, run and control their own algorithmic trading strategies. They can track key performance indicators in real-time and step in to alter parameters on the fly, slow down or speed up trading, or pause or stop the algorithm to react to changing market conditions or to mitigate risk as well as use pre-, post- and intra-trade analytics to evaluate performance.

Fidessa’s BlueBox suite includes both benchmark algorithms and execution algorithms that maximize liquidity access while minimizing market impact.

About Fidessa group

Fidessa group is a world-leading supplier of multi-asset trading, portfolio analysis, decision support, investment compliance, market data and global connectivity solutions for both the buy-side and sell-side globally. Available as a simple workstation or as an integrated application suite, the Fidessa and Fidessa LatentZero products are built on the clear vision of providing the richest functionality, coverage and distribution to the financial markets community.

The Fidessa suite is used by 85% of tier-one, global equity brokers providing sophisticated multi-asset trading, market data, order management and execution capabilities to all tiers of the sell-side.

The Fidessa LatentZero suite is used by the world’s largest asset management firms through to smaller specialist managers and hedge funds, and provides comprehensive portfolio analysis, real-time P&L, what-if analysis, investment compliance, order and execution management, and post trade processing tools, across all asset classes, to all tiers of the buy-side.

Fidessa’s global network carries over 130 million messages a month covering DMA, Care and Algorithmic orders, Indications of Interest and FIX Allocations between over 1,800 buy-sides and 310 brokers across 100 markets worldwide.

Head-quartered in London and with offices in New York, Boston, Tokyo, Hong Kong, Paris, Toronto and San Francisco, Fidessa group serves 22,000 users across 600 clients globally. Fidessa group was founded in 1981, has revenues of around US$350m, employs over 1,200 people and has been fully listed (LSE:FDSA) since 1997.

www.fidessa.com

www.latentzero.com

Fidessa® is a registered trademark of Fidessa Group plc

All product and company names herein may be trademarks of their registered owners.

Contacts

Fidessa
Martin Hakker, 416-646-6627
martin.hakker {at} fidessa(.)com
or
Spring O’Brien, for Fidessa
Marc Weinstein, 212-620-7100, ext. 216
marcw {at} spring-obrien(.)com