Fidessa Group Regulatory News (FDSA)

FIDESSA GROUP PLC - Interim Management Statement

PR Newswire

London, October 20

Fidessa group plc Interim Management Statement

21st October 2015

Fidessa group plc (LSE: FDSA), provider of high-performance trading, investment management and information solutions for the world's financial community, today issues its interim management statement for the period from 1st July 2015 to date.

Fidessa has continued to see customer markets entering a new phase of recovery as the impact from regulatory and structural changes strengthens. This changing landscape is creating a large number of opportunities as well as some additional challenges, resulting in a high level of new business activity alongside an increased investment pipeline. As noted in the interim report, the increased competition within the customer base may lead to further closures and consolidations, and whilst similar levels of growth to those seen in the first half are anticipated for the year as a whole, this may result in a higher level of headwind into 2016.

Looking ahead, Fidessa believes that it is entering a period where significant opportunity is returning to the markets. Further strong progress with the multi-asset initiative is expected and Fidessa will continue its research into the rates segment of the fixed income market, although no decision has yet been made to provide support for this asset class. Fidessa remains excited by the potential for its service-based offerings across all asset classes and believes that there are increasingly few vendors capable of meeting customers' business requirements whilst also having the scale and infrastructure necessary to handle the latest compliance demands being made by the regulators. Fidessa believes that it will continue to play an increasingly important role as customers focus on efficiency, transparency, compliance and performance, and expects that as markets stabilise it will see a return to growth rates similar to those seen in the past.

Fidessa continues to have a strong balance sheet with strong reserves, no debt and substantial levels of recurring revenue. Strong cash generation has continued through the period and Fidessa expects to be able to announce a further special dividend with its preliminary results in February 2016. Furthermore, Fidessa does not currently believe that an investment in providing support for the fixed income asset class is likely to have a material impact on its ability to pay further special dividends in the future.

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About Fidessa group

Exceptional trading, investment and information solutions for the world’s financial community.

New technology, new regulation, new challenges: making money in today’s financial markets is all about staying ahead of the curve. Having the capability to spot new trends and act fast turns change into opportunity. That’s why many of the world’s premier financial institutions trust Fidessa to provide them with their multi-asset trading and investment infrastructure, their market data and analysis, and their decision making and workflow technology. It's also why around $20 trillion worth of transactions flow across our global network each year. Because we’re the market leader, we can also offer unique access to one of the world’s largest and most valuable trading community of buy-side and sell-side professionals, from global institutions and investment banks to boutique brokers and niche hedge funds.

Fidessa is a global business with scale, resilience, ambition and expertise. We’ve delivered around 25% compound growth since our stock market listing in 1997 and we're recognised as the thought leader in our space. We set the benchmark with our unrivalled set of mission-critical products and services and, uniquely, serve both the buy-side and sell-side communities. Ongoing investment in our leading-edge, integrated solutions ensures Fidessa remains the industry's number one choice.