London-based Fidessa Group, a leading provider of trading, compliance and global connectivity solutions, plans to open a new office in Bahrain.

The Bahrain office will serve as its Middle East headquarters. This represents the latest step in the company’s ongoing strategy of global expansion, said a statement. 

The company has also announced the appointment of two new key staff as part of the expansion of its operations in the Middle East. 

Fidessa group is a world-leading supplier of multi-asset trading, portfolio analysis, decision support, investment compliance, market data and global connectivity solutions for both the buy-side and sell-side globally.  Its award-winning Fidessa and Fidessa LatentZero solutions are widely used by the global financial markets community.

Fidessa’s sell-side operations in the region will be managed by Edward Manley who will serve as regional manager for the Middle East and Africa. Manley brings extensive experience of the Gulf region having worked for Reuters Middle East for 12 years before joining Fidessa. 

For Fidessa LatentZero on the buy-side, Gary Dingwall will be responsible for new business development in the region. He also brings a wealth of experience having lived and worked in the Gulf as regional manager for Swift for over a decade, the statement said.

Simon Barnby, global director of marketing communications for Fidessa group, said: “The Middle East presents an important new marketplace for Fidessa group, with opportunities for both our buy-side and sell-side products, as well as for our global connectivity solutions.  These key staff appointments and new regional headquarters demonstrate our commitment to the region.  The Middle East is a lucrative emerging market with international aspirations, and we are looking forward to being a part of the developing landscape there.”

Fidessa group will be marking the official launch of its enhanced activities in the Middle East at Meftec, the Banking & Financial Technology event, at the Bahrain International Exhibition Centre on February 10 and 11.

Available as a simple workstation or as an integrated application suite, the Fidessa and Fidessa LatentZero products are built on the clear vision of providing the richest functionality, coverage and distribution to the financial markets community, it said.

The Fidessa suite is used by 85 per cent of tier-one, global equity brokers providing sophisticated multi-asset trading, market data, order management and execution capabilities to all tiers of the sell-side, the statement added.

The Fidessa LatentZero suite is used by the world’s largest asset management firms through to smaller specialist managers and hedge funds, and provides comprehensive portfolio analysis, real-time P&L, what-if analysis, investment compliance, order and execution management, and post trade processing tools, across all asset classes, to all tiers of the buy-side.

Head-quartered in London and with offices in New York, Boston, Tokyo, Hong Kong, Paris, Toronto and San Francisco, Fidessa group serves 22,000 users across 600 clients globally. –TradeArabia News Service