Fidessa Group Regulatory News (FDSA)

FIDESSA GROUP PLC - Interim Management Statement

PR Newswire

London, April 26

Fidessa group plc Interim Management Statement

27th April 2017

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 2017 to date.

Whilst Fidessa continues to see structural and regulatory drivers within the market, the increasing number of European elections, the forthcoming Brexit negotiations and the establishment of the new US administration are clearly creating some uncertainty. As a result, during Q1, Fidessa has seen some customers taking longer to make decisions than normal, but still believes that constant currency revenue growth for the year will be around the levels seen during 2016, with further headline gains if sterling remains weak.

Fidessa continues to believe that it is well positioned to benefit from the opportunities that will arise in the markets as a result of regulatory and structural changes. Furthermore, with over 60% of its revenue derived from outside of Europe, and over 70% in non-sterling currencies, Fidessa remains well positioned to benefit from any continued weakness in sterling, providing further support for its strong cash generation and dividend policy. As noted in the 2016 preliminary announcement, Fidessa anticipates that one off and duplicate costs in respect of the relocation of its main US office from New York to Jersey City will reduce profit after tax margin by approximately 1% during 2017.

Looking further ahead, although it is clear that the increasing number of European elections, the Brexit negotiations and the establishment of the new US administration will create some uncertainty, Fidessa believes that it is entering a period where opportunity is returning to the market. Fidessa expects to continue to make progress with its multi-asset initiative and will continue to investigate the possibility of extending its asset class coverage further. Fidessa believes that across all asset classes, the market is moving towards the increased use of service-based solutions and that few vendors have both the depth of applications and the scale of infrastructure needed to deliver these solutions. Fidessa is committed to playing an increasingly important role in the markets as customers focus on efficiency, transparency, compliance and performance, and expects that this will provide it with significant opportunities for further growth.

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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 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 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’re listed on the London Stock Exchange and 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.