FD Technologies Regulatory News (FDP)

9 Feb 2005 14:32

First Derivatives PLC09 February 2005 First Derivatives plc New contract signed First Derivatives plc ("FDP"), the leading provider of systems support anddevelopment services to the capital markets technology sector, announces thesigning of a significant Near Shore IT support contract with Electronic DataSystems ("EDS"). FDP has signed a contract with EDS for FDP to provide Near Shore IT Support forone of EDS's major banking customers in London. The contract requires FDP toassign 12 technical resources, the majority of whom will be located offsite atFDP head office, to provide support for the bank's back office financial marketssettlement and risk management systems. The contract which is renewable on an annual basis, involves certaintransitional arrangements and it is expected the full impact on trading will notbe felt until the second half of the calendar year. Michael O'Neill, Chief Operations Officer commented: "Winning this contract is a major step forward for the Company and is furthervindication of our strategy to expand our Near Shore support business to thebanking sector." Enquiries: Brian Conlon / Michael O'Neill 028 3025 2242 This information is provided by RNS The company news service from the London Stock Exchange