Collins Stewart, an independent UK-based investment banking group, has gone live with the full suite of Fidessa’s advanced trading tools, which includes list management, wave and pairs trading and the BlueBox algorithmic trading engine.
BlueBox gives Collins Stewart, a Fidessa-hosted client since 2004, access to algorithms, including volume- and time-weighted average price, arrival price and percentage of volume.
Fidessa list management and wave trading tools enable Collins Stewart to trade mixed baskets while consolidating all trades and performance data in real time. Fidessa pairs trading is a set of trading strategies that takes advantage of merger and acquisition structures, and market inefficiencies, in order to obtain profit.
The advanced trading tools suite is currently used by three members of Collins Stewart’s execution team, allowing them to handle a number of client orders than before, according to Fidessa.
Peter Hall, head of IT and operations at Collins Stewart, said: The complexity of today’s trading environment calls for highly automated, reliable and efficient execution, and the increasing use of algorithmic strategies. Fidessa’s advanced trading tools, which are integrated with our existing Fidessa order management system, which enable us to execute client orders faster with minimal manual intervention, providing our customers with better execution, as required under MiFID.