Peel Hunt renews with ION’s Fidessa Trading Platform as broker enters new growth phase

Rick Steves

Peel Hunt is an increasingly important provider of trade execution services to UK retail platforms and brokers. We are delighted that Peel Hunt has chosen the Fidessa Trading Platform to grow its business further.”

Peel Hunt has renewed its contract for ION’s Fidessa Trading Platform, which offers market makers an option to build customized workflows quickly and safely, and integrate their own business intelligence using ION’s real-time APIs.

The broker and market maker has been using the Fidessa Trading Platform for nearly 20 years to access European markets and RSP market making networks.

While Fidessa has been a steady partner for Peel Hunt for two decades, the fintech firm changed hands in 2018 after deciding between two rival bidders, Temenos and ION Markets.

“Fidessa’s leading position in equities and derivatives trading solutions complement our fixed income and FX capabilities and will enable us to serve our customers more effectively across all asset classes and accelerate innovation”, said ION’s chief executive Andrea Pignataro at the time.

Peel Hunt to leverage Fidessa as it enters next phase of growth

Iain Morgan, Head of Execution and Trading at Peel Hunt, commented: “Effective business growth requires technology that can simplify workflows, and boost efficiency. For Peel Hunt, ION has been a trusted partner in this area for nearly two decades. The Fidessa Trading Platform is the benchmark in the equities space and the top choice for sell-side institutions. As we enter our next phase of growth, ION remains our preferred partner.”

Michael Cashel, Equities, ION Markets, said: “Peel Hunt is an increasingly important provider of trade execution services to UK retail platforms and brokers. We are delighted that Peel Hunt has chosen the Fidessa Trading Platform to grow its business further.”

Peel Hunt has 163 corporate clients, more than 1230 institutional relationships, and over 420 stocks covered. The broker holds an FCA license and is a member of the LSE for its operations in the United Kingdom and is a registered broker-dealer in the United States and a member of FINRA and SIPC.

ION appointed Robert Cioffi for the equities division

ION has been quite an active member of the trading industry, having recently upgraded its connectivity to support Trumid and its disclosed dealer-to-client negotiation protocol, Attributed Trading.

The protocol runs through the ION Credit solution, thus allowing Trumid to provide additional benefits, including access to diverse market data sources, powerful automation for Axe and Run management, and ION’s advanced pricing engine.

In December 2021, Louis Dreyfus Company (LDC) deployed the ION Derivatives Global Trading Platform (GTP) to manage and grow its derivatives execution and hedging operations. ION provides trading, analytics and risk management solutions for capital markets, commodities, and treasury management.

In November 2021, ION appointed 25-year industry veteran Robert Cioffi as Global Head of Equities Product Management after spending 15 years at UBS Investment Bank, where he recently held the role of Executive Director and Product Manager, Securities eCommerce.

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