Fidessa signed a partnership agreement with Alpha Omega that will leverage Fidessa's post-trade Affirmation Management Service (AMS). This utility provides alternative low-cost affirmation processing to Fidessa's extensive community of buy-sides and sell-sides world-wide.

Alpha Omega was one of the early pioneers to provide FIX-based solutions for affirmation processing through its comprehensive FIXAffirm® post-trade service. Having established a strong buy-side presence, Alpha Omega recognised the scale advantage of accessing the entire sell-side community through a single conformance to Fidessa's AMS utility, which will simplify and reduce significantly the time taken to on-board customers.

Fidessa has established AMS as a credible alternative industry utility to central matching, and is leveraging Alpha Omega's affirmation workflow and integration expertise to extend its reach within the asset management community to firms using third party OMS platforms. This partnership effectively unites the Alpha Omega customer base with the Fidessa AMS community.

David Pearson, Head of Post-trade Services at Fidessa, commented: "The AMS utility is all about helping the industry achieve its need for lower cost and more efficient affirmation processing. By partnering and collaborating with Alpha Omega, we strengthen that vision and accelerate the growth of our global network."

Kamal Duggirala, Chief Executive Officer of Alpha Omega, added: "We are delighted to partner with Fidessa and seamlessly connect our asset manager clients to Fidessa’s broker/dealer community for trade confirmation/affirmation. We believe that this partnership is a significant step forward in making the adoption of FIX-based, post-trade processing easy and cost-effective."

The two firms have also agreed to collaborate on other asset classes, including derivatives, in the near future. This will ensure that the trading community will ultimately be able to use one single industry utility for all its post-trade processing, regardless of asset class.

Steve Grob, Director of Group Strategy at Fidessa, concluded: "This deal ticks a number of boxes for us – extending our presence in the post-trade space, leveraging distribution with specialized third parties and bringing further value to the Fidessa community. We are looking forward to working closely with Kamal and his team to take advantage of our respective