The first phase of the project covers trading hubs in London and Chicago while subsequent phases will cover hubs in Asia.
Fidessa said that the platform will offer Newedge with a multi-asset trading workflow solution across their front and middle-office operations which incorporates global order management, access to Newedge trading algorithms, FIX connectivity and smart order routing tools.
As part of the deal, Fidessa will also supply global market data as well as low-latency gateways to access more than 100 derivatives and cash equity markets.
Newedge global head of eSolutions Nicholas Garrow said, "Fidessa’s sophisticated multi-asset workflow offering – including an integrated, multi-asset algorithmic trading engine and centralised pre-trade risk and monitoring tools – will play an integral role to deliver next-generation capabilities to our global clients spanning all asset classes."
