(Editor’s Note: Using the FIX electronic trading protocol for trade affirmations could ease some of the burdens of shortened settlement cycles, and may prevent fines for European firms facing new requirements for faster settlement, says Steve Grob, director of group strategy for London-based electronic trading platform and services vendor Fidessa Group. Over the past year,… Read More >>
Fidessa Pioneers FIX-based Affirmation Service
London-based electronic trading platform and services vendor Fidessa Group is readying a launch of an affirmation management service, dubbed AMS, for the buy side that uses the FIX electronic trading standard at its core, officials say. The new offering, due by the fourth quarter of this year, is intended to provide the buy side with… Read More >>
Fidessa Promotes for Head of Execution
Electronic trading platform vendor Fidessa has promoted David Polen to global head of electronic execution, according to a company statement. For his new role, Polen will be responsible for overseeing the development of software that allows brokers “to present global execution to their own clients more intelligently and cost effectively,” according to the statement. “Fidessa’s… Read More >>
Special Report: FIX Moves Into Post-Trade Processing
Buy- and sell-side firms are reassessing their post-trade infrastructures and looking for cost-effective ways to streamline operations. Firms are finding a new ally in their post-trade quest: the venerable FIX protocol, which is extending nicely from the front office into middle office functions. Technology vendors and service providers are moving fast to meet a growing… Read More >>
Could FIX Disrupt Post-Trade Processing?
Buy-side firms and vendors in the U.S. are exploring extensions of the FIX protocol to post-trade processes. But stretching FIX in this way will stir up battles over standard and proprietary protocols and whether post-trade processing should be done locally among firms or through a centralized matching system. The outcome of these battles may determine… Read More >>
Will Fidessa Spur New Vendor Battles via Post-Trade FIX?
Normally a front-office vendor, Fidessa has today officially embraced the FIX protocol for its Post-trade Confirmation Hub offerings, which facilitate FIX-based trade affirmations and confirmations between buy-side and sell-side firms. This follows the work of the FIX Protocol Ltd. to push the electronic trading standard beyond the front office. Perhaps Fidessa’s FIX move is a… Read More >>
Pandit Exits Suddenly from Citi as the SEC Names a Deputy IT Executive
Citi Bids Farewell to Pandit and a COO Saying it’s the right time to exit, Vikram Pandit has stepped down from his post as CEO for Citigroup and has left Citi’s board of directors effective immediately, according to bank officials. The Wall Street Journal has reported that disputes over strategy and management between Pandit and… Read More >>
MD at DTCC Becomes Omgeo’s Chairman
MD at DTCC Becomes Omgeo’s Chairman Andrew Gray, managing director of core business management for the Depository Trust and Clearing Corp. (DTCC), joined Omgeo as chairman of the board this past June, officials say. Gray replaces Donald F. Donahue, former president and CEO of the DTCC, who retired from the DTCC last month but will… Read More >>
