Newedge deploys Fidessa trading platform

Newedge, a joint venture of Societe Generale and Credit Agricole CIB, has selected the Fidessa trading platform and order management system for its global derivatives and equity trading business, BBR reports.

The first phase of the project covers trading hubs in London and Chicago while subsequent phases will cover hubs in Asia.

According to Market Watch, the platform will provide Newedge with a multi-asset trading workflow solution across their front and middle-office operations - incorporating global order management, access to Newedge trading algorithms, FIX connectivity and smart order routing tools.

“We are extremely excited to be working with Fidessa to deliver a world class execution platform which will underpin the growth of our equities, futures and options business globally,” says Nicholas Garrow, global head of e-solutions at Newedge.

Fidessa will also supply global market data as part of the deal, as well as low-latency gateways to access over 100 derivatives and cash equity markets, Sys Con notes.

“Fidessa's sophisticated multi-asset workflow offering - including an integrated, multi-asset algorithmic trading engine and centralised pre-trade risk and monitoring tools - will play an integral role to deliver next-generation capabilities to our global clients spanning all asset classes,” Garrow concludes.