Fidessa Updates Canadian Trading Platform

It's called - drumroll, please - Version 12.1 and the firm's trading kit has been deployed across 90 percent of Fidessa's Canadian's clients, including eight of the top ten financial institutions north of the border.

Fidessa announced the latest version of its Canadian trading platform: Version 12.1. According to a press statement, the trading platform without a name is "[a]imed at empowering businesses so they can operate in and take full advantage of the ever-evolving Canadian trading landscape."

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The updated solution offers integrated access to historical data and analytics "to deliver superior performance, and now has a sleek, new user interface that provides increased transparency, greater flexibility and improved ease-of-use," according to the statement.

Fidessa claims that the new update includes such features as: A "sleek, new user interface" that serves as the control center for the trading platform; enriched Canadian market access strategies, which allow traders to define multiple trading strategies for use either direct to venues or via the Fidessa smart order router; and configurable DMA.

The improved Fidessa solution also boasts expanded multi-asset class trading as well as "Fragulator Integration." Users can post remaining stocks across numerous venues using 7-day or 30-day historic trading data from the Fidessa Fragulator, which analyzes where trading in particular stocks or indices takes place.

"As the new norm of fragmented, globalized, multi-asset trading takes hold, the total cost of ownership of trading products and services has come under extreme scrutiny," says Ritesh Patel, director of client services at Fidessa Canada.

He adds: "Each new product is built on the foundation of an existing solution and set up to integrate seamlessly with new ones so our customers aren't slowed down by lengthy upgrades or incompatible systems. This allows them to concentrate on their core trading business and stay far ahead of the competition."

Phil Albinus is the former editor-in-chief of Advanced Trading. He has nearly two decades of journalism experience and has been covering financial technology and regulation for nine years. Before joining Advanced Trading, he served as editor of Waters, a monthly trade journal ... View Full Bio