So, it’s now public information that Citi have signed up with Fidessa to deliver a global solution:
“Fidessa will provide Citi with an order management and distributed low-latency execution platform along with BlueBox, Fidessa’s integrated algorithmic trading engine. The Fidessa solution will also deliver risk management functionality, comprehensive market data and a global order routing service. ”
So, a big bank takes a chance on Fidessa to deliver a comprehensive futures platform. Citi acquired a lot of people to build up this business and they are looking to deliver something impressive.
So – what has that got to do with Sungard vs Fidessa?
Well, remember that Fidessa started by using GL Trade gateways to markets until they built up EMMA. Fidessa built up an equities business and they never really hit the sweet spot in the futures space.
Now they have a top tier client that has publicised this decision. So, what happens next? The existing GLTrade client base now sit down and think “hmmm, if Citi can do it, so can I, get Steve Barrow on the phone”.
I really want to quote Sir Winston Churchill here, but I will resist the temptation.
Now, what do Sungard do? I refer the honourable reader to my post of some moments ago – link here