Fidessa hails Alpha Omega venture

Fidessa group plc has signed a partnership agreement with Alpha Omega leveraging Fidessa’s post-trade Affirmation Management Service (AMS).

David Pearson, head of post-trade services at Fidessa, said: “The AMS utility is all about helping the industry achieve its need for lower cost and more efficient affirmation processing. By partnering and collaborating with Alpha Omega, we strengthen that vision and accelerate the growth of our global network.”

Alpha Omega was one of the early pioneers to provide FIX-based solutions for affirmation processing through its FIXAffirm post-trade service. Having established a strong buy-side presence, Alpha Omega recognised the scale advantage of accessing the entire sell-side community through a single conformance to Fidessa’s AMS utility, which will simplify and reduce significantly the time taken to on-board customers.

Fidessa says it has established AMS as a credible alternative industry utility to central matching, and is leveraging Alpha Omega’s affirmation workflow and integration expertise to extend 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 firms have also agreed to work together on other asset classes, including derivatives, in the near future. This will 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.