Fidessa Increases Trade Speed by up to 24 Percent 1 For traders, time is critical. Their algorithms are reacting to market events in microseconds. If they decide to make a trade and the market moves, they risk missing out on the price, or sometimes even risk losing the deal entirely. At the same time, there’s a huge amount of complexity to deal with: exchanges use different message protocols. Many companies end up with numerous gateways and in-house systems to place their trades across the markets, all of which need to be maintained and updated. The trader may be using multiple layers of chained algorithms, including (in no particular order): benchmark, prop, spreader, execution tactics, synthetic order, and smart order routing. Fidessa solves these problems with its

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