Fidessa Partners with Alpha Omega to Leverage Post-trade AMS

Fidessa Partners with Alpha Omega to Leverage Post-trade AMS
06.04.2016 09:45 am

Fidessa Partners with Alpha Omega to Leverage Post-trade AMS

Trading Systems

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 

Related News

New derivatives exchange to level the crypto playing-field

The rapidly expanding community of crypto derivatives traders stands to benefit from an industry-grade trading service with the launch of ZUBR, a new high-performance exchange... Read more »

DriveWealth Forges First Partnership in Middle East and North Africa Region with UAE-Based Wealthface

DriveWealth, LLC,  a U.S. based leader in global digital trading technology, announced today a new partnership with ... Read more »

Aspire partners with GeTS in furthering fintech hub ambitions

In furthering Singapore as the fintech hub of Southeast Asia, Global eTrade Services (GeTS) has announced its partnership with Aspire, a Singapore-based startup with... Read more »

TransFICC and SoftSolutions to Provide Connectivity for Interest Rate Swaps

TransFICC, the specialist provider of low-latency connectivity and workflow services for Fixed Income and Derivatives Markets, and SoftSolutions, the developer of high-... Read more »

b-next provides compliance solution to major Russian bank

The German developer of specialised software b-next has concluded the past fiscal year with an important business deal. A major Moscow-based bank has decided to monitor... Read more »

Itiviti Recognized for Best Trading and Execution Platform at Asian Private Banker Technology Awards

Itiviti, a leading technology and service provider to financial institutions worldwide, today announced that its multi-asset trading and execution solution has won  Best... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel