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.

Read this next

Retail FX

ThinkMarkets expands CFDs lineup to over 4000 ETFs and shares

ThinkMarkets has expanded its service offering by incorporating 2500 new CFDs on shares and ETFs on its ThinkTrader platform.

Retail FX

France regulator warns investors of Omega Pro, Businessempire.fr

France’s financial markets regulator alerted investors that scams related to Omega Pro Ltd are beginning to circulate, with the blacklisted firm capitalizing on the situation to run a range of “unrealistic” offers.

Digital Assets

Web3 platform Grand Time paid $2 million in token earnings to date

Community-driven Web3 platform Grand Time said its offering – which includes a multifaceted platforms and its native token – has been gaining significant traction highlighted by impressive operational metrics.

Institutional FX

FX volumes at MOEX halved in April as ruble gains gorund

Currency trading at Moscow Exchange (MOEX) halted its upward route in April as monthly volumes nearly halved from a month earlier.

Digital Assets

FTX US adds stock trading, fractional shares to crypto platform

FTX US, the American subsidiary of crypto exchange FTX has kicked off stock trading feature to its customers in an effort to compete with popular platforms such as Robinhood and eToro.

Industry News

UK FCA empowered to remove brokers’ permissions in 28 days

Businesses with permissions they don’t need or use, risk misleading consumers. These new powers will enable us to take quicker action to cancel permissions that are not used or needed.

Industry News

CFTC charges $44m Ponzi scheme but millions may have fled to foreign crypto exchange

The CFTC alleged that defendants transferred millions of dollars to an off-shore entity that, in turn, may have transferred funds to a foreign cryptocurrency exchange. None of these funds were returned to the pool.

Technology

Saxo Bank deploys Adenza to address Basel and EBA requirements

The integration of ControllerView will enhance Basel-driven capital calculations and reporting at Saxo Bank in support of the bank’s multijurisdictional capital and liquidity reporting requirements throughout Denmark, Switzerland and UK, with plans to expand into the Netherlands.

Executive Moves

ComplySci appoints CTO, CPO, and CLO to further regtech’s product expansion

ComplySci offers compliance software used by more than 1400 global institutions to identify risk and address regulatory compliance challenges.

<