Fidessa has announced the opening of its Post-Trade Confirmation Hub, designed to allow allocations and confirmations of trades directly between sell-side and buy-side counterparties via FIX.
The service, which covers global equities, operates on a fixed-fee basis, unlike current industry offerings that tend to charge per message.
"Our approach has been to focus on both the messaging standards that the industry wants to adopt and the business process for the operational users," says David Pearson, head of post-trade services at Fidessa and co-chair of the Fix Protol Limited EMEA Post-Trade Working Group. "By standardizing the workflow for all our buy- and sell-side customers we are able to provide a straight-forward and effective middle office environment. In addition, firms can leverage the existing FIX infrastructure they already have in place for routing order flow."
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