Last checked at 17 Feb 2010 07:00
17 February 2010
First Derivatives plc
("First Derivatives" or "the Company")
First Derivatives secures further investment from Invest Northern Ireland
First Derivatives (AIM:FDP.L, IEX:GYQ.I), a leading provider of software and support services to the financial services and technology industries, is pleased to announce that it has secured financial investment from Invest Northern Ireland ("Invest NI") (Northern Ireland's Economic Development Agency) towards supporting its ongoing research and development efforts.
The commitment from Invest NI is for a £355,000 facility to be used to support the Company's investment in the field of market research and product development. The investment, a proportion of which is provided by the European Regional Development Fund, will ensure that First Derivatives continues to develop best in class solutions for its recognised product brand in the financial services sector. The Company anticipates that these funds will be drawn during the course of 2010. This follows previous investment of some £3.0m from Invest NI, announced in January 2009.
Chief Executive Brian Conlon commented: "The financial investment from Invest NI will assist in our plans to enhance the product side of the business. The investment will ensure that our software portfolio continues to expand globally and, will enable the acceleration of research and development as we aim to improve our offering to our customers."
First Derivatives develops, implements and supports a broad range of mission critical trading and risk management systems across front, middle and back-office operations for many of the world's leading financial institutions.
Enquiries:
| First Derivatives plc, | Tel. +44(0)28 3025 2242 |
| Brian Conlon, Managing Director | Web. www.firstderivatives.com |
| Graham Ferguson, Finance Director |
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| Charles Stanley Securities, | Tel. +44 (0)20 7149 6000 |
| Nominated Advisor |
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| Russell Cook |
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| Carl Holmes |
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| Goodbody Stockbrokers, | Tel. +353 1 667 0420 |
| IEX Advisor |
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| Diane Hodgson |
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| Linda Hickey |
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| Finbarr Griffin |
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| ICIS Limited, | Tel. +44 (0)20 7651 8688 |
| Financial PR |
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| Bob Huxford |
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| Tom Moriarty |
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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 400 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.