Fidessa group plc (LSE: FDSA) today announced that its Sentinel buy-side compliance solution has scooped the top spot for best compliance product for the sixth time at the annual Buy-Side Technology Awards.

With the industry undergoing the biggest programme of regulatory reform ever seen, asset managers are under increasing pressure to juggle the demands of regulators with the needs of their clients, and all of this against a backdrop of increasingly challenging economic conditions. Consequently, firms need a compliance system with the power and flexibility to address these requirements today and one that can scale and evolve to address their needs in the future. 

A market-leading, multi-asset class solution, Sentinel provides the transparency and agility that buy-side firms require, enabling them to react quickly to sophisticated new mandates and legislation. Available as a fully managed service, Sentinel allows asset managers to reduce their operational costs by taking responsibility for rule coding, regulatory updates, data management, list maintenance and platform upgrades. Additionally, its real-time engine keeps pace with a firm’s pre-trade needs in today’s increasingly complex and diverse world.

Long-established as the pre-eminent portfolio compliance system, the recent addition of Sentinel Trading Compliance sets a new standard, allowing asset managers to consolidate, monitor and control their trading operations and risk on a single platform.

Richard Hooke, Product Director at Fidessa Buy-side, commented: "The current climate is tough for asset managers as the industry continues to meet the challenges of regulation, increased complexity and the need for transparency and tighter control of costs. To adapt to this environment, our customers require the best possible solution that they can trust to meet their current and future compliance needs in a totally flexible and robust way. It's gratifying to know that our consistent and sustained investment in developing the solution to the highest possible standard has been acknowledged once again by this award."

Victor Anderson, Editor-in-Chief, Waters, remarked: "With asset managers facing intense scrutiny, Fidessa's Sentinel maintains a dominant position in an area that continues to be the focus for both regulators and investors. The judges were impressed with Fidessa's ongoing commitment to providing the compliance and risk management functionality that its customers demand. By allowing them to demonstrate consistent best practice, Sentinel remains a compelling proposition for buy-side firms and is a well-deserved winner in this category."