Last checked at 1 Feb 2010 07:00
1 February 2010
First Derivatives plc
("First Derivatives" or "the Company")
Distribution Agreement with BrokerEdge Systems Advisors Pte Ltd ("BrokerEdge")
First Derivatives Delta suite of products to be distributed in Singapore and Malaysia
First Derivatives (AIM:FDP.L, IEX:GYQ.I), a global capital markets software provider today announces a strategic alliance with BrokerEdge to distribute First Derivatives' Delta product suite to the Singapore and Malaysian markets.
First Derivatives' Delta product set is the Company's high performance modular suite of real-time trading, CEP, market and reference data, accounting and risk management applications launched in 2008. Delta Algo provides the necessary performance and flexibility required to engineer, back-test and deploy a wide range of trading strategies, and to manage associated risk in real-time. The technology is already in use at a number of the world's leading financial institutions.
Brian Conlon, Chief Executive Officer of First Derivatives commented, "We have a focus on growing our business in the Asia-Pacific region and as part of that expansion we are delighted to announce the agreement with BrokerEdge. This follows on from our recent distribution agreement with Religare Technologies addressing the Indian market, and our acquisition of Lepton Solutions Pty Ltd in Australia last year.
"Markets throughout Asia are becoming increasingly sophisticated and with that comes a demand for the high-frequency, low-latency trading and the management of the associated risk for which the Delta suite has been designed. Singapore and Malaysia are at the forefront of advances in financial markets in the region and BrokerEdge is ideally placed to help grow our business there."
Daniel Tan, Chief Executive Officer of BrokerEdge stated, "We are pleased to be selected by First Derivatives as its partner for expansion to this marketplace. The strategic partnership combines BrokerEdge's intricate understanding of the Equities & Derivatives Markets in the region and First Derivatives' global leading expertise in High Performance Trading, Market and Reference Data and Risk Management systems.
"This partnership is uniquely positioned to serve the rapidly growing High-Velocity and Algorithmic Trader communities on the Singapore and Malaysia Exchanges."
Enquiries:
| First Derivatives plc | Tel. +44 (0)28 3025 2242 |
| Brian Conlon, Chief Executive Officer | Web. www.firstderivatives.com |
| Graham Ferguson, Chief Finance Officer | |
| BrokerEdge Systems Advisors Pte Ltd | Tel. +659636 9818 |
| Daniel Tan, Chief Executive Officer | |
| Charles Stanley Securities, | Tel. +44 (0)20 7149 6000 |
| Nominated Adviser to First Derivatives | |
| Russell Cook | |
| Carl Holmes | |
| Goodbody Corporate Finance, | Tel. +353 1 667 0420 |
| IEX Adviser to First Derivatives | |
| Diane Hodgson | |
| Linda Hickey | |
| ICIS Limited, | Tel. +44 (0)20 7651 8688 |
| Financial PR to First Derivatives | |
| Bob Huxford | |
| Fiona Conroy |
About First Derivatives
Founded in 1996, First Derivatives is a specialist provider of software and consulting services to the capital markets technology sector. The Company's Delta product suite includes enterprise risk, algorithmic/program trading and data management solutions which deliver true real-time performance.
First Derivatives currently employs over 300 people worldwide and counts many of the world's top investment banks and hedge funds as its customers. It has operations in London, New York, Stockholm, Shanghai, Singapore, Toronto and Hong Kong.
About BrokerEdge Systems Advisors Pte Ltd
BrokerEdge is a Singapore based consulting firm specialising in business process re-engineering, strategic IT planning & management with a vertical focus on the Capital Market industry.
Founded in 2008, key principals of BrokerEdge are former senior executives of the market operator with extensive experience in Trading, Risk Management, Clearing & Settlement Systems. Key target customers are Exchanges, Depositories and Market Intermediaries in the region.