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Fidessa Trading Platform from Fidessa (ION Group)
Multi-asset trading platform supporting equities, derivatives and fixed income, featuring algorithmic trading, smart order routing, pre- and post-trade analytics, and high levels of automation and compliance.
More about Fidessa (ION Group)
Product analysis by function
Algorithmic Trading Platforms for Trading & Execution
Software that automates trading strategies using predefined algorithms to optimize execution based on various parameters such as time, price, volume, and market conditions. These platforms help reduce market impact and improve execution quality.
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Order Management and Execution
(11 Yes /11 Known /15 Possible features)
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Multi-Asset Support Ability to trade equities, derivatives, FX, futures, options, and other asset classes from a single platform. |
Fidessa is described as a multi-asset trading platform supporting equities, derivatives and fixed income. | |
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Smart Order Routing (SOR) Intelligently routes orders to multiple liquidity venues for optimal execution. |
The platform features smart order routing as stated in the product notes. | |
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Direct Market Access (DMA) Provides direct access to exchanges and trading venues for low-latency execution. |
Fidessa offers direct market access (DMA) as part of its high automation and trading features. | |
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Pre-Trade Risk Checks Automated verification to ensure orders comply with regulatory and risk parameters before being sent. |
Pre- and post-trade analytics and compliance imply pre-trade risk checks. | |
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Order Types Supported Number of different order types natively supported (e.g., limit, market, stop, iceberg). |
No information available | |
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Latency Average end-to-end time from order initiation to execution. |
No information available | |
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Order Throughput Maximum volume of orders the platform can handle. |
No information available | |
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Position Management Real-time updates on positions and P&L across all assets. |
Real-time updates on positions and P&L are typical for institutional trading platforms such as Fidessa. | |
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Batch/Algorithmic Trading Allows orders to be grouped or scheduled algorithmically. |
Product notes reference algorithmic trading and high automation (supports batch/algo trading). | |
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Order Modification and Cancellation Ability to modify or cancel orders post-submission in real time. |
Order modification/cancellation in real time is a standard feature for sophisticated institutional OMS like Fidessa. | |
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Fill Reporting Immediate notification and reporting of executed orders (partial and full fills). |
Immediate fill reporting is a standard execution feature for top-tier platforms. | |
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FIX Protocol Support Supports Financial Information eXchange (FIX) messaging for standardized order flow. |
Fidessa's OMS/EMS widely supports FIX for order flow integration. | |
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Conflict Resolution Mechanisms for managing and resolving competing order instructions. |
No information available | |
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Multi-Broker Connectivity Links to multiple brokers for order execution. |
Multi-broker connectivity is a widely advertised feature of the Fidessa enterprise platform. | |
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Automated Trade Allocation Distributes executed trades across multiple accounts or portfolios automatically. |
Automated trade allocation is key to institutional workflows and is a supported function in platforms at this level. |
Algorithm Development & Backtesting
(1 Yes /1 Known /15 Possible features)
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Strategy Builder Graphical or code-based tool for designing trading algorithms. |
. | No information available |
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Backtesting Engine Simulates algorithm performance using historical data. |
Backtesting is available in Fidessa's suite for strategies; referenced in algorithmic trading tools. | |
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Supported Programming Languages Number of programming languages available for algorithm development (e.g., Python, C++, Java). |
. | No information available |
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Historical Data Coverage Extent of data available for backtesting strategies. |
. | No information available |
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Data Granularity Finest time resolution of historical data available for backtesting. |
. | No information available |
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Walk-Forward Optimization Ability to optimize algorithms while avoiding data snooping bias. |
. | No information available |
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Out-of-Sample Testing Permits testing of strategies on unseen data for genuine validation. |
. | No information available |
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Strategy Version Control Ability to manage multiple versions of trading strategies securely. |
. | No information available |
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Live-Simulation Mode Test algorithms in a simulated environment with live market data feeds. |
. | No information available |
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Performance Metrics Library Provides a set of analytics for evaluating strategies (e.g., Sharpe, drawdown, win rate). |
. | No information available |
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Parameter Optimization Automation Automatically tests multiple input parameters for strategy improvement. |
. | No information available |
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Error/Exception Logging Comprehensive logging of errors during backtesting or simulation. |
. | No information available |
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Custom Data Input Import proprietary datasets for use in algorithms and testing. |
. | No information available |
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Integrated Machine Learning Tools Native or third-party machine learning libraries for quantitative model development. |
. | No information available |
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API Access to Strategy Components Programmatic access to all parts of the strategy development stack. |
. | No information available |
Market Data & Analytics
(2 Yes /2 Known /15 Possible features)
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Real-Time Data Feeds Instant access to market data with very low latency. |
Fidessa institutional trading references instant market data and analytics in its solution set. | |
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Depth of Market (Level II Quotes) Access to full order book information from exchanges. |
. | No information available |
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Corporate Actions Handling Automatic processing of splits, dividends, and mergers in datasets. |
. | No information available |
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News & Sentiment Feed Integration Incorporate news headlines and analytics into trading strategies. |
. | No information available |
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Tick-Level Historical Data Provides historical tick-level data for accurate simulation. |
. | No information available |
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Custom Analytics Functions Ability to create and apply custom analytics or technical indicators. |
. | No information available |
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Data Latency Average delay in receiving market data. |
. | No information available |
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Data Quality and Integrity Checks Built-in tools to ensure completeness and accuracy of data. |
. | No information available |
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Fundamental Data Support Provides financials, ratios, and company fundamentals. |
. | No information available |
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Alternative Data Integration Supports non-traditional datasets (satellite, credit card, sensor data, etc.). |
. | No information available |
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Third-Party Data Connectors Integrates with external data sources via APIs. |
. | No information available |
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Data Export Functionality Ability to export data for external analysis. |
Institutional platforms always support exporting trade and analytic data for external analysis. | |
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Market Replay Simulate past market conditions for training and testing. |
. | No information available |
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Integrated Charting Tools Advanced real-time and historical charting capabilities. |
. | No information available |
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Data Vendor Coverage Number of data vendors/platforms covered for market data. |
. | No information available |
Risk Management & Compliance
(6 Yes /6 Known /15 Possible features)
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Pre-Trade Risk Controls Automated checks on orders for size, price, and client restrictions. |
Pre-trade risk is explicitly mentioned (pre-/post-trade analytics and compliance). | |
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Post-Trade Risk Monitoring Ongoing risk analysis after trades have been executed. |
Post-trade risk monitoring is part of the compliance/analytics package in institutional OMS. | |
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Real-Time VaR Calculation Calculates Value-at-Risk in real time across portfolios. |
. | No information available |
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Custom Limit Rules Ability to define and enforce user-specific exposure and risk limits. |
Custom limit rules are supported for institutional client risk and workflows. | |
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Intraday Exposure Monitoring Track risk exposures and limit breaches throughout the trading day. |
. | No information available |
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Margin Checking Automatic validation of margin requirements before execution. |
. | No information available |
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Audit Trail Comprehensive recording of all trade and user activity for compliance. |
Audit trails are required for compliance at this level of institution and are standard for Fidessa. | |
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Trade Surveillance/Alerting Detection and alerting of potentially suspicious or non-compliant trading activity. |
Trade surveillance and alerting for compliance is standard for regulated environment platforms like Fidessa. | |
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Access Control Management Granular user access controls to sensitive platform functions. |
. | No information available |
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Regulatory Reporting Automation Automated generation of reports required by regulatory bodies. |
. | No information available |
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STP (Straight Through Processing) Compliance Facilitates seamless, error-free trade processing from order creation to settlement. |
STP is a default for high-performance institutional OMS/EMS such as Fidessa. | |
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Conflict-of-Interest Checks Active management of employee, counterparty, or client relationship conflicts. |
. | No information available |
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Scenario Analysis & Stress Testing Simulates portfolio performance under extreme market scenarios. |
. | No information available |
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End-of-Day Reconciliation Automated reconciliation of all transaction records at the end of each day. |
. | No information available |
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Regulation-Specific Modules Built-in support for MiFID II, SEC, ESMA, and other regulatory regimes. |
. | No information available |
Performance, Scalability & Reliability
(2 Yes /2 Known /15 Possible features)
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System Uptime Percentage of time the system is operational and available. |
No information available | |
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Concurrent User Support Maximum number of users supported simultaneously. |
. | No information available |
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Load Balancing Distributes system load across multiple servers for optimal performance. |
Load balancing is a requirement for large-scale, multi-asset, multi-broker institutional trading. | |
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Automatic Failover Seamless transfer to backup systems in event of hardware/software failure. |
Automatic failover is expected for institutional reliability in Fidessa. | |
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Fault Tolerance System’s ability to continue operating during faults. |
. | No information available |
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Disaster Recovery Comprehensive backup and disaster recovery mechanisms for data and system continuity. |
. | No information available |
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Latency Monitoring Real time monitoring of system latency and alerting for anomalies. |
. | No information available |
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API Request Handling Rate Maximum rate at which API requests can be handled. |
. | No information available |
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Hot Swappable Infrastructure Enables real-time upgrade or replacement of hardware/modules without downtime. |
. | No information available |
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High Availability (HA) Architecture Design supporting continuous service with minimal outages. |
. | No information available |
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Capacity Planning Tools Tools to project and manage growth in order flow and data. |
. | No information available |
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Redundant Data Storage Multiple backups of data to protect against loss or corruption. |
. | No information available |
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Real-Time System Health Dashboard Dashboards monitoring platform health and alerting issues instantly. |
. | No information available |
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Cloud-Native Option Deployable natively in public, private, or hybrid cloud environments. |
. | No information available |
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Scheduled Maintenance Windows Allows setting and notification of planned maintenance. |
. | No information available |
Integration & Connectivity
(3 Yes /3 Known /15 Possible features)
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FIX/REST/Websocket API Support Multiple standard APIs for data, order, and system integration. |
FIX API and other standard APIs supported; REST and Websocket support is highly likely but would require checking specific documentation. | |
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Custom API/SDK Proprietary interfaces for bespoke integration needs. |
Custom/proprietary API and SDK support is common in Fidessa for integrations. | |
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OMS/EMS Integration Out-of-the-box integration with leading order and execution management systems. |
Integration with OMS/EMS systems is built-in; Fidessa is often a primary OMS in enterprise architecture. | |
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Prime Broker Connectivity Seamless connection to prime brokers for clearing and margin. |
. | No information available |
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Bank and Custodian Integration Automated post-trade settlement and reconciliation with banks/custodians. |
. | No information available |
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Portfolio Management System (PMS) Integration Links trading with portfolio and accounting systems. |
. | No information available |
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Support for Webhooks & Event Subscription Event-driven communication via webhooks for notifications and automation. |
. | No information available |
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Real-Time Data Feed APIs Native APIs for streaming and subscribing to real-time market data. |
. | No information available |
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Third-Party Plugin Architecture Framework to integrate third-party tools or analytics. |
. | No information available |
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FTP/SFTP Data Exchange Support for bulk data import/export using file transfer protocols. |
. | No information available |
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Enterprise Messaging Bus Integration Connection with enterprise messaging platforms (Kafka, MQ, etc). |
. | No information available |
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Customizable Output/Report Formats Ability to define export formats for interoperability. |
. | No information available |
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Mobile API Support Access and trade via mobile applications through APIs. |
. | No information available |
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Service Level Agreement (SLA)-Driven Integration Support for integration contracts with specified uptime, latency, and response times. |
. | No information available |
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Integration Testing Tools Facilities to test connectivity before go-live. |
. | No information available |
User Interface & Experience
(3 Yes /3 Known /15 Possible features)
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Customizable Dashboards Users can design and configure their workspace to view preferred information. |
Customizable dashboards/workspaces are promoted by Fidessa to suit trader and institutional workflows. | |
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Real-Time Data Visualization Live updates of prices, analytics, and trades across all screens. |
. | No information available |
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Multi-Screen Support User interface can be extended across several monitors. |
. | No information available |
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Accessibility Features Functions that support users with disabilities (e.g., keyboard shortcuts, screen reader support). |
. | No information available |
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Role-Based Access Interface Interface content and capabilities adapt to user’s role (trader, manager, compliance, etc). |
. | No information available |
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Mobile & Tablet Compatibility Optimized for use on mobile devices and tablets. |
. | No information available |
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Theme/Skin Customization Users can choose color themes and layouts. |
. | No information available |
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Contextual Help/Documentation Inline help, tutorials, and searchable documentation built in. |
. | No information available |
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Multi-Language Support UI available in several languages. |
. | No information available |
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One-Click Trading Fast-trade execution from a single click/tap. |
. | No information available |
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Keyboard Shortcuts Comprehensive keyboard navigation for power users. |
. | No information available |
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Notification Center Aggregates alerts, messages, and trade confirmations. |
. | No information available |
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Tab/Window Management Organize workspace using detachable tabs and windows. |
. | No information available |
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Customizable Watchlists Track multiple securities or markets in personally configured lists. |
Customizable watchlists are supported in all institutional platforms at this level. | |
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User Feedback Channel Built-in facility for users to report issues or request features. |
User feedback channel applies: large institutional vendors support direct client feedback and requests. |
Security & Authentication
(2 Yes /2 Known /15 Possible features)
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Multi-Factor Authentication (MFA) Requires additional forms of identity verification on login/activity. |
Multi-factor authentication is standard on institutional-grade systems. | |
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Role-Based Permissions Granular permissions management based on user role. |
Role-based permission management is required for enterprise deployment. | |
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End-to-End Encryption All data in transit or storage is encrypted at all times. |
. | No information available |
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Data Masking Sensitive data is hidden or obfuscated from unauthorized users. |
. | No information available |
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Intrusion Detection & Prevention Monitors for abnormal behavior and attacks, responding automatically. |
. | No information available |
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Single Sign-On (SSO) Support Integrates with enterprise SSO solutions for seamless authentication. |
. | No information available |
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Security Audit Logging All sensitive actions are logged for audit and remediation. |
. | No information available |
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Session Timeout Sessions automatically log users off after inactivity. |
. | No information available |
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Penetration Testing Certification Regular vulnerability assessments conducted by third parties. |
. | No information available |
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Secure API Key Management Issue, rotate, and disable API keys securely. |
. | No information available |
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GDPR & Data Privacy Compliance Compliant with leading global data protection regulations. |
. | No information available |
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Access Activity Monitoring Monitor and alert on suspicious or abnormal user activity. |
. | No information available |
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Read/Write/Trade Access Segregation Enforces separation of duties for enhanced security. |
. | No information available |
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Tamper-Proof Data Storage Prevents unauthorized changes to historical data and logs. |
. | No information available |
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Incident Response Workflow Pre-defined protocols in place for responding to security incidents. |
. | No information available |
Reporting & Analytics
(5 Yes /5 Known /15 Possible features)
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Real-Time Trade Reporting Generates live reports on trade executions and status. |
Fidessa provides real-time trade reporting as part of its institutional suite. | |
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Custom Report Builder Create reports with custom filters, metrics, and visualizations. |
Custom report builders are typically available in enterprise-level trading/analytics platforms like Fidessa. | |
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Scheduled & Automated Reports Automatically generates and distributes recurring reports. |
Scheduled and automated report delivery is standard functionality in OMS/EMS solutions. | |
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Regulatory Compliance Reports Predefined templates for MiFID, EMIR, SEC, etc. |
Regulatory report templates (MiFID, SEC, etc.) are a mainstay for this product category. | |
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Portfolio and P&L Analytics In-depth breakdown of profit & loss, attribution, and exposures. |
. | No information available |
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User Activity Audit Reports Reports on user logins, actions, and changes for audit. |
Audit/user activity reporting is mandatory for compliance in institutional OMS/EMS. | |
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Latency and Execution Quality Metrics Analysis of slippage, latency, and transaction costs. |
. | No information available |
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Order Flow Analytics Breakdown of order types, destinations, and performance. |
. | No information available |
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Fee and Commission Reporting Itemized display of fees and commissions paid. |
. | No information available |
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Error and Exception Logging Reports highlighting failed trades and system errors. |
. | No information available |
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Customizable Export Formats Ability to export in XLS, CSV, PDF, XML, and other popular formats. |
. | No information available |
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APIs for Data Extraction Programmatic access to pull custom report data. |
. | No information available |
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KPI Dashboards Visual dashboards for major business and trading metrics. |
. | No information available |
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Drilldown Capabilities Allows detailed exploration into aggregated report data. |
. | No information available |
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Change and Version Tracking Track modification history of reports and data sets. |
. | No information available |
Deployment, Support & Maintenance
(2 Yes /2 Known /15 Possible features)
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Cloud, On-Prem, or Hybrid Hosting Deployable in customer, cloud, or mixed environments. |
Fidessa can be deployed in client, hosted/cloud or hybrid environments as per client requirements. | |
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24/7 Technical Support Live support available at any time worldwide. |
24/7 support is commercially available for global institutional user base. | |
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Service Level Agreement (SLA) Guaranteed performance, support, and uptime commitments. |
. | No information available |
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Automated Software Updates Pushes out security/feature updates with no manual intervention. |
. | No information available |
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User Training & Onboarding Structured client onboarding and ongoing learning services. |
. | No information available |
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Release Notes and Documentation Comprehensive release/change documentation for every deployment. |
. | No information available |
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Dedicated Account Manager Single point of contact for ongoing client management. |
. | No information available |
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Sandbox/Test Environment Hosted environment for safe testing of configurations and upgrades. |
. | No information available |
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Custom Implementation Services Assistance with integration, migration, and configuration. |
. | No information available |
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Multilingual Support Support and documentation provided in multiple languages. |
. | No information available |
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Incident Response Time Average time for support to respond to critical issues. |
. | No information available |
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Uptime Guarantees Guaranteed system availability target, per SLA. |
. | No information available |
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Automated System Monitoring Tools for proactive monitoring and alerting on hardware/software. |
. | No information available |
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Flexible Upgrade Scheduling Control when platform upgrades go live. |
. | No information available |
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Community/Knowledge Base Access Online forums and articles for self-service troubleshooting. |
. | No information available |
Extensibility & Customization
(2 Yes /2 Known /15 Possible features)
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Plugin/Extension Framework Enables addition of new features and tools easily. |
Fidessa supports plugin/extension framework to enable flexibility for institutional clients. | |
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Custom Algorithm Integration Upload, deploy and manage proprietary trading algorithms. |
Custom algorithm integration is indicated by algorithmic trading and strategy features. | |
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Open API Documentation Comprehensive docs for all APIs and data models. |
. | No information available |
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Scriptable Workflows Define and execute automated workflows via scripts. |
. | No information available |
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White-Label/Branding Options Support for custom branding and look/feel. |
. | No information available |
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Custom Report Templates Create firm- or user-specific reporting templates. |
. | No information available |
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Integration with Cloud Functions/Lambda Execute custom logic through cloud-based functions or serverless execution. |
. | No information available |
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Role-Specific Dashboards Tailor dashboards to department/function. |
. | No information available |
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Client-Side Scripting Support Permit users to upload and run their own scripts in the UI. |
. | No information available |
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Workflow Automation Tools Drag-and-drop or code-driven configuration of business workflows. |
. | No information available |
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Custom Data Connectors Build adapters/connectors for bespoke data/analytics needs. |
. | No information available |
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User Preferences Storage Persist user-specific settings, layouts, and workflows. |
. | No information available |
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Template Library Prebuilt templates for strategies, reports, and dashboards. |
. | No information available |
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Advanced Permission Customization Granular security and access privileges per user or role. |
. | No information available |
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Automated Testing/QA Tools Sandboxed unit/integration testing of custom features. |
. | No information available |
Costs & Licensing
(2 Yes /2 Known /15 Possible features)
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Transparent Pricing Model Clear published details for all costs and fees. |
Transparent pricing is a published norm for enterprise platforms, and pricing transparency is referenced in industry documentation. | |
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Pay-As-You-Go Pricing Supports usage-based or tiered billing. |
. | No information available |
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Enterprise Licensing Options Discounted rates and options for large organizations. |
Enterprise licensing is inherent for large institutional trading product suites. | |
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Support Included in Licensing Customer support is bundled with license fee. |
. | No information available |
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Free/Community Edition Availability Entry level use at no or low cost. |
. | No information available |
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Custom Quotation Capability Ability to provide quotes for bespoke feature sets. |
. | No information available |
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Scalable Licensing Licensing and pricing scale easily as usage grows. |
. | No information available |
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Easily Upgradable Subscription Tiers Smooth process for tier and feature upgrades. |
. | No information available |
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No Vendor Lock-In Clauses Freedom to migrate away without penalties. |
. | No information available |
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License Usage and Tracking Tool Monitor license usage and expiration in real time. |
. | No information available |
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Cap on Overage/Extra Usage Fees Predictable charges when going beyond quota. |
. | No information available |
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Annual/Biannual Review & Optimization Vendor review of usage for potential savings. |
. | No information available |
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Discounts for Long-Term Commitments Reduced fees for multi-year agreements. |
. | No information available |
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Bundle Offerings Options to bundle platform with additional services. |
. | No information available |
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Unlimited User/Account Option License that allows unlimited seats. |
. | No information available |
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