Fidessa Group Regulatory News (FDSA)

Fidessa group plc Interim Management Statement

28th April 2016

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 January 2016 to date.

The movements seen in the financial markets during the first quarter of 2016 clearly demonstrate the challenging environment in which Fidessa's customers are operating. Despite this, the themes Fidessa saw during 2015 are continuing, with more opportunities opening up as customers position their businesses for the future. The further delays in the introduction of some of the proposed regulatory changes that have been announced are not having a significant impact on the opportunities Fidessa is seeing and it believes that the investments it has made during the downturn leave it well positioned to benefit from these opportunities. The closures and consolidations Fidessa saw within its customer base during 2015 meant that a higher level of headwind during 2016 was anticipated, and whilst some further closures and consolidations are expected during the remainder of 2016, Fidessa believes that this will reduce as markets stabilise. Despite the increased headwind, Fidessa still expects 2016 constant currency growth to be at a similar level to that which it saw in 2015 with good single-digit growth in core-equities and continued double-digit growth in recurring derivatives revenue.

Looking further ahead, Fidessa believes that it is entering a period where opportunity is returning to the markets. Fidessa expects that it will make further strong progress with its multi-asset initiative and believes it is on track to achieve profitability within its derivatives business within the next three years. Fidessa continues to look at the possibility of extending its asset class coverage further, and will update the market as progress is made. Fidessa believes that across all asset classes, the market is moving towards service-based offerings and believes that there are increasingly few vendors capable of meeting its customers' business requirements whilst also having the scale and infrastructure necessary to handle the latest compliance demands being made by the regulators. Fidessa remains committed to playing an increasingly important role in the markets as customer focus on efficiency, transparency, compliance and performance, and expects that as markets stabilise this will provide it with significant opportunities for further growth.

Fidessa continues to have a strong balance sheet with strong reserves, no debt, strong cash generation and substantial levels of recurring revenue.

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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 85% 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 $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 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.