Fidessa still counting the pennies

Fidessa, the provider of multi-asset trading systems, said uncertainty in its markets has continued into the third quarter.The group said that while in some instances the cloudy economic climate and the fluid regulatory position have created some opportunities for Fidessa, it is also making some customers, particularly smaller firms, hesitant to put pen to paper and order new systems.It is mainly within these smaller firms that Fidessa is seeing a level of consolidation and restructuring and it expects this trend will continue. With the outlook uncertain the company continues to focus on maintaining a higher level of cost control to provide an additional level of contingency."Looking ahead, we believe the market will remain difficult to predict and it is unlikely that we will know the true nature of the economic situation, or of prospective government regulation for some time to come. Despite this, we are confident that we can deliver good growth for 2010 as a whole although, as previously stated, we do not believe that the overall rate of growth will be as high as that seen during 2009," the company said.