Fidessa Group plc (LON:FDSA) today announces a partnership agreement with Alpha Omega that will leverage Fidessa’s post-trade Affirmation Management Service (AMS). The utility offers alternative low-cost affirmation processing to Fidessa’s community of buy-sides and sell-sides.
Alpha Omega, a provider of FIX-based solutions for affirmation processing through its comprehensive FIXAffirm post-trade service, has recognised the scale advantage of accessing the entire sell-side community through a single conformance to Fidessa’s AMS utility, which is set to simplify and cut markedly the time taken to on-board customers.
Fidessa is leveraging Alpha Omega’s affirmation workflow and integration expertise to expand its reach within the asset management community to firms using third party OMS platforms. This partnership effectively unites the Alpha Omega customer base with the Fidessa AMS community.
The two companies have also agreed to collaborate on other asset classes, such as derivatives, in the near future. This is set to ensure that the trading community will ultimately be able to use one single industry utility for all its post-trade processing, regardless of asset class.
Kamal Duggirala, Chief Executive Officer of Alpha Omega, says:
“We are delighted to partner with Fidessa and seamlessly connect our asset manager clients to Fidessa’s broker/dealer community for trade confirmation/affirmation. We believe that this partnership is a significant step forward in making the adoption of FIX-based, post-trade processing easy and cost-effective.”
Steve Grob, Director of Group Strategy at Fidessa, adds:
“This deal ticks a number of boxes for us – extending our presence in the post-trade space, leveraging distribution with specialized third parties and bringing further value to the Fidessa community. We are looking forward to working closely with Kamal and his team to take advantage of our respective strengths.”
You can view the full announcement from Fidessa by clicking here.