Wed, 20/02/2008 - 06:00
Fidessa group, which provides multi-asset financial trading, portfolio analysis, decision support, investment compliance, market data and global connectivity solutions to brokers and investment firms through its Fidessa and LatentZero product suites, is to set up a development centre in Belfast.
The centre will undertake development of software products for the international market and is expected to create 26 skilled software programming jobs. Fidessa expects to invest around GBP2.5m over the first three years, while regional development corporation Invest NI has offered support of GBP244,000. The investment includes a comprehensive training programme for new staff that will create niche skills in a high-value market.
Invest NI chief executive Leslie Morrison says: '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 multinational companies who already have centres here.'
Fidessa chief executive Chris Aspinwall adds: '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 a pool of high-quality software engineering skills. Through this investment, Fidessa will provide exciting career opportunities at the leading edge of the fast-moving, dynamic financial trading marketplace.'
Fidessa group is a supplier of multi-asset trading, portfolio analysis, decision support, investment compliance, market data and global connectivity solutions for both buy-side and sell-side. Its Fidessa and Fidessa LatentZero products are available as a simple workstation or as an integrated application.
Fidessa is used by 85 per cent of tier-one, global equity brokers providing trading, market data, order management and execution capabilities to all tiers of the sell-side. Fidessa LatentZero is used by asset management firms, specialist managers and hedge funds to provide portfolio analysis, real-time P&L, what-if analysis, investment compliance, order and execution management, and post trade processing tools across all asset classes.
Fidessa's global network carries more than 95 million messages a month covering DMA, Care and algorithmic orders, indications of interest and FIX allocations between over 1,500 buy-side firms and 255 brokers across 92 exchanges worldwide.
Headquartered in London with offices in New York, Boston, Tokyo, Hong Kong, Paris and Toronto, Fidessa serves more than 22,000 users at 500 clients worldwide. Fidessa was founded in 1981, has revenues of USD270 and employs more than 1,100 people.
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