Norway-based First Securities has selected UK-based Fidessa Group's SaaS sell-side trading platform. First Securities is the third Norwegian broker to choose Fidessa in 2010.
According to Fidessa, the solution incorporates its advanced smart order router and connectivity to multiple liquidity venues which will allow First Securities, a subsidiary of Swedbank, to meet the challenges of an increasingly fragmented marketplace.
Fidessa’s SaaS trading solution comprises specialist trading platforms developed for the European, US, Canadian, Japanese and Asian markets, including electronic order management, smart order routing, real-time market data, and global market connectivity.
Peter Wessel, head of equities at First Securities, said: “It is fundamental to our business strategy that we offer the best possible service to our buy-side clients and that underpinned this decision. The requirement to upgrade our trading capabilities was largely prompted by the liquidity fragmentation that has characterized the European market over the last two years.
“We were aware of Fidessa’s reputation for rich functionality and, with their powerful smart order routing capabilities and broad market connectivity, we can be sure that we are offering the best possible execution services to our buy-side clients. With this decision we are also future-proofing ourselves against further change, for example the Oslo Bors’ move to the TradElect platform and the London Stock Exchange’s forthcoming Millennium Exchange platform migration. Investing in Fidessa’s solution allows us to focus on our core business.”