Fidessa LatentZero, a provider of trading technology to the buy-side, has launched LatentZero as a Service, a fully-managed front-office solution.
The new product includes compliance, order and execution management features and decision support across all asset classes. For a monthly fee, buy-side firms will be connected to over 400 brokers and alternative trading systems with pre-built regulatory compliance rules for global markets and be able to integrate the product with their back office systems.
The product uses a software-as-a-service (SaaS) model which, according to Fidessa, will ensure quick and low-risk implementation at a reduced, fixed cost – a particularly attractive feature for smaller firms with a lack of IT infrastructure.
“We think LatentZero as a Service will be particularly compelling for smaller buy-side firms, firms operating in emerging markets, and for larger firms that are specifically looking to reduce their total cost of ownership,” said Richard Jones, CEO, Fidessa LatentZero, in a statement. “With LatentZero as a Service, firms can outsource the running of their front office technology to the company who designed and built it, freeing them to concentrate on their core business.”
“The software-as-a-service model will become the dominant model for delivery of front office solutions to the buy-side over the next few years,” added Jones. “We have already experienced this with the sell-side area of our business where over 90% of our customers use SaaS for Fidessa’s trading platforms.”
The service will be delivered from dedicated hardware located in Fidessa’s eight data centres in North America, Europe, Asia and Japan.