Fidessa opens up the world of post-trade processing.

London, 1st August 2013 – Fidessa group plc (LSE: FDSA) has today announced the availability of its open Post-trade Confirmation Hub which allows buy-side and sell-side firms to confirm trades between themselves via FIX. Key to the initiative is that firms can certify once to the hub and then be part of Fidessa’s global trading community of 3,600 buy-sides and 775 brokers.

Fidessa’s new service will enable firms to send and receive allocation and confirmation instructions to each other via an open, free-to-use protocol. This removes the need for proprietary alternatives that charge on a per message basis. The service covers global equities trading and is available now.

“For some time the industry has been looking at post-trade as a key battleground in the war on daily operating costs,” said Steve Grob, Director of Group Strategy at Fidessa. “What we found was that, whilst many of the processes are hugely important, there is no competitive edge in one proprietary approach over any other. Recent fragmentation into competing alternatives has simply made the whole process even more inefficient for market participants of all types.”

To meet this challenge, Fidessa worked closely with FIX Protocol Limited (FPL)… Read more on www.pressreleasepoint.com