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14th May, 2007
Maxim Group Goes Live With Fidessa BlueBox
New York – 14 May 2007 – Fidessa group plc (LSE: FDSA) today announced that Maxim Group LLC has gone live with Fidessa BlueBox. Available in the US, Canada, Europe and Asia, Fidessa BlueBox is a fully-integrated, scalable algorithmic trading solution providing sell-side firms with industry-standard benchmark strategies along with a framework for building their own proprietary models.
A hosted Fidessa customer since March 2006 for its OTC & listed trading desks, Maxim can offer its clients access to BlueBox’s latest algorithmic strategies. James Orazio, President at Maxim Group, comments: “With BlueBox, we have been able to quickly move into the algorithmic space by leveraging industry-strength algorithms without the need to build and maintain our own technical infrastructure.”
ABuilt on Fidessa’s proven technology used by over 85% of global, tier-one equity brokers, BlueBox incorporates Fidessa’s low-latency market data and global connectivity. This provides Maxim with an extremely resilient, easy to deploy and cost-effective solution. Jim Dyer, Head of Equity Trading at Maxim Group, adds: “We were so pleased with Fidessa’s BlueBox strategies that we asked Fidessa to roll it out to the entire desk after just two days of pilot use.”
Matthew Rowley, Global Product Manager for BlueBox adds: “As competition grows, it’s important to provide firms like Maxim Group the ability to distinguish themselves. With the BlueBox framework behind them, Fidessa’s team of algorithmic consultants is well positioned to provide customized models within days of initial request. BlueBox has leveled the playing field.”
“Fidessa BlueBox breaks the financial barrier for firms like Maxim Group who want to move into algorithmic trading and we look forward to working with Maxim Group on new models, allowing them to improve performance and regain further control over their trading volume.” said Martin Hakker, EVP Marketing at Fidessa.
BlueBox heralds the evolution of Fidessa’s trading platform into an algorithmic management system (AMS) by offering algorithmic trading capabilities totally integrated with its order management system (OMS). Furthermore, BlueBox is suitable for any size of firm and delivers true straight-through-processing while facilitating compliance with regulations such as RegNMS and MiFID.
BlueBox is part of Fidessa’s advanced trading suite which includes List Management, Wave Trading, Pairs Trading and analytics, all of which are built on and integrated with Fidessa’s global, multi-asset trading platform used by over 10,000 users at around 320 clients worldwide. The Fidessa network provides connectivity to around 1,000 buy-side institutions, 200 brokers and 82 exchanges globally.
About Maxim Group
Maxim Group is a leading investment banking, securities and investment management firm. Maxim Group provides an array of financial services including: investment banking, equity research, private wealth management, structured products, and global institutional equity, fixed-income and derivative sales & trading.
About Fidessa
Fidessa provides world-leading solutions for multi-asset trading, portfolio management, compliance, market data and global connectivity to asset managers, hedge funds and broker/dealers globally. Available as a simple workstation or as an integrated application suite, Fidessa is built on the vision of providing the richest functionality and coverage for front and mid office solutions to both the buy-side and sell-side communities.
Fidessa is used by 85% of tier-one, global equity brokers providing sophisticated trading, market data, order management and execution capabilities to all tiers of the sell-side worldwide.
Fidessa LatentZero is a global leader in the provision of buy-side investment management front office software for portfolio analysis, modelling, order generation, order management and trading, all with integrated pre and post trade compliance. The Fidessa LatentZero products are fully cross-asset covering equities, fixed income, money markets, FX, and listed/OTC derivatives.
Fidessa’s global network carries over 10 million messages a month covering DMA, Care and Algorithmic orders, Indications of Interest and FIX Allocations between 1,000 buy-sides and 210 brokers across 82 exchanges worldwide.
Head-quartered in London and with offices in New York, Boston, Tokyo, Hong Kong, Paris and Toronto, Fidessa serves over 14,000 users at around 400 clients globally. Fidessa was founded in 1981 and acquired LatentZero in 2007. Fidessa has revenues of around $250m, employs over 1,000 people and has been fully listed (LSE:FDSA) since 1997.
For further information, please contact:
Martin Hakker
Fidessa
(212) 520-3697
martin.hakker@fidessa.com
Marc Weinstein
Spring O’Brien for Fidessa
(212) 620-7100
marcw@spring-obrien.com
Jim Dyer
Maxim Group LLC
(212) 895-3837
jdyer@maximgrp.com
The Fidessa product suite provides integrated multi-asset trading, market data and connectivity solutions to over 10,000 users at around 320 clients around the world, and serves over 85% of global, tier-one equity brokers. The Fidessa network provides connectivity to around 1,000 buy-side institutions, 200 brokers and 82 exchanges globally.
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