Fidessa group has extended its existing relationship with ABN AMRO Clearing Bank to enable the global clearer to distribute its derivatives EMS.
In June 2016 ABN Amro Clearing harmonised its global multi-asset market access by replacing numerous ISV and in-house systems with Fidessa's XTP technology. ABN Amro Clearing can now present its clients with a globally consistent and highly performant market access layer to more than 110 futures, options, equities and FX markets delivered out of 11 key locations around the world.
ABN Amro Clearing is one of the world’s leading providers of clearing and financing services, handling over 16 million trades daily and covering the world’s leading exchanges across Europe, the Americas and Asia Pacific. The bank consistently ranks among the top three clearers in every time zone, based on market turnover.
"With this level of throughput, having a robust, scalable and highly flexible platform is hugely important to us and, more importantly, our clients," said James Fairweather, Global Head of Execution Services at ABN Amro Clearing. "We were impressed by Fidessa’s intelligent F&O execution capabilities, including their algorithms, synthetic strategies and other smart order types.
"Along with ensuring that our clients have access to the best execution capabilities in the world, Fidessa is also heavily vested in ensuring that they will be MiFID II ready. Along with our dedicated regulation practice that was established several years ago, we have invested over 10,000 man days of R&D this year alone in ensuring our solutions meet the regulation's requirements,” added Justin Llewellyn-Jones, Global Head of Derivatives at Fidessa.
When MiFID II comes into force in January 2018, futures markets will enter the same cauldron of regulatory change and scrutiny that equities have been living through since 2007. In particular, the management of risk will be a key consideration, together with numerous additional reporting and tagging requirements.
The strength of Fidessa's technology has been recognised with a number of industry accolades this year, most recently being named both Equity and Derivatives Trading System of the Year at the FOW and Global Investor Asia Capital Markets Awards and Best Trading and Execution Technology at the CTA Intelligence European Services Awards for the second year running.