Investec, a UK banking group which provides financial services in the London, South African and Australian markets, already uses Fidessa as its equity trading platform.
Pairs will enable its traders to work on complex pair orders based on M&A, historical rations or their own in-house models.
The VWAP module supports VWAP, TWAP and Random Slice order slicing mechanisms, and allows traders to customize levels of aggression and slice intervals.
Royalblue says that both these tools provide improved efficiency for the business by allowing traders to handle a greater volume of algorithmic orders and focus their time on more complex trades.
Fidessa provides an order management system with integrated market data and low latency exchange connectivity that interfaces with Investec’s internal back-office system, facilitating real-time STP processing of all trades.
Trevor Gatfield of Investec Securities (UK), comments, We wanted algorithmic trading capabilities to reduce the cost of trading complex order types and guarantee best execution for our clients. Fidessa provided the best product for meeting these needs and also allowed us to leverage our existing investment in the platform. The integrated solution that Fidessa supplies also means we didn’t have to glue together solutions from different vendors.
The implementation was successfully achieved in one month as Investec needed only to extend its existing Fidessa system without changing any infrastructure or the back-office interfaces. The algorithmic modules are installed in London for users on the securities desk.
