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19th February, 2008
Leading Financial Software Company Fidessa to set up in Belfast
Invest Northern Ireland today announced that Fidessa group plc, the leading financial markets software and services company, is to set up a development centre in Belfast.
Fidessa group provides multi-asset financial trading, portfolio analysis, decision support, investment compliance, market data and global connectivity solutions, through its Fidessa and LatentZero product suites, to both brokers and investment firms globally.
The Belfast centre will be central to the development of such software products for the international market with 26 highly skilled software programming jobs expected to be created. Fidessa expects to invest around £2.5 million over the first three years and Invest NI has offered support of £244,000 towards the project.
Welcoming the announcement, Leslie Morrison, Invest NI’s Chief Executive, said: “I’m delighted that a company of the calibre of Fidessa has chosen to expand its operations by setting up a centre in Belfast. It will add to the growing cluster of financial services companies here, strengthening Northern Ireland’s growing international reputation, in this key sector”.
“Before choosing Belfast, Fidessa considered options in the Republic of Ireland and other UK regions. The availability of high quality software engineers was a key factor in the company’s decision to locate in Belfast, as was the support offered by Invest NI and the positive experience of other multi-national companies who already have centres here.”
Fidessa serves around 22,000 users across 520 clients worldwide. Fidessa’s products are used by over 85% of global, tier-one equity brokers as well as by many of the world’s largest asset managers. The investment includes a comprehensive training programme for new staff which will create niche skills in a high value market.
Chris Aspinwall, Fidessa group’s Chief Executive, added: “Fidessa has a strong reputation for providing powerful, robust software solutions to the most demanding blue-chip organisations involved in global financial markets trading.”
“Opening this office in Northern Ireland forms part of our expansion plans for our software development capabilities, and will provide us with access to the pool of high quality software engineering skills that are available. Through this investment, Fidessa will provide exciting career opportunities at the leading edge of the fast-moving, dynamic financial trading marketplace.”
About Fidessa group
Fidessa group is a world-leading supplier of multi-asset trading, portfolio analysis, decision support, investment compliance, market data and global connectivity solutions for both the buy-side and sell-side globally. Available as a simple workstation or as an integrated application suite, the Fidessa and Fidessa LatentZero product suites are built on the clear vision of providing the richest functionality, coverage and distribution to the financial markets community.
The Fidessa suite is used by 85% of tier-one, global equity brokers providing sophisticated trading, market data, order management and execution capabilities to all tiers of the sell-side.
The Fidessa LatentZero suite is used by the world’s largest asset management firms through to smaller specialist managers and hedge funds, and provides comprehensive portfolio analysis, real-time P&L, what-if analysis, investment compliance, order and execution management, and post trade processing tools, across all asset classes, to all tiers of the buy-side.
Fidessa’s global network carries over 95 million messages a month covering DMA, Care and Algorithmic orders, Indications of Interest and FIX Allocations between around 1,500 buy-sides and 255 brokers across 92 exchanges worldwide.
Head-quartered in London and with offices in New York, Boston, Tokyo, Hong Kong, Paris, Toronto and San Francisco, Fidessa group serves around 22,000 users across 520 clients globally. Fidessa group was founded in 1981, has revenues of $270m, employs over 1,100 people and has been fully listed (LSE:FDSA) since 1997.
www.fidessa.com
www.latentzero.com
For further information, please contact:
Simon Barnby
Fidessa
+44 20 7929 9250
simon.barnby@fidessa.com
Evelina Amanatidou
Team 660, Metia for Fidessa
+44 (0)20 3100 3592
evelina@metia.com
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