Licence Agreement with Algori

RNS Number : 2144P

First Derivatives PLC

13 July 2010

 



13 July 2010

 First Derivatives plc

("First Derivatives" or the "Company")

Licence Agreement with Algorithmics

First Derivatives (AIM:FDP.L, ESM:GYQ.I), a leading provider of software and consulting services to the Capital Markets Industry has today announced that it has signed a licence agreement with Algorithmics Inc. ("Algorithmics"), for the use of First Derivatives' Delta Reference Data Factory.  Under the terms of the agreement, Algorithmics will licence Delta Reference Data Factory ("Delta RDF") as the reference data engine with Algorithmic's risk management systems.

Delta is First Derivatives' powerful and growing suite of capital markets software. Delta RDF is an open platform for managing reference data with off-the-shelf and configurable feed handlers, data model / transformation engine and distribution / enrichment suite.

Brian Conlon, CEO of First Derivatives plc, commented: "We are delighted to announce this deal for Delta Reference Data Factory. Algorithmics is a leading player in risk management and their requirements for reference data management are comprehensive and forward looking. Algorithmics' selection of Delta RDF is a strong endorsement, and demonstrates the value of our proven capabilities and open architecture. The deal represents a strong win for First Derivatives and is a validation of the RDF platform, acquired by First Derivatives in 2009."

Algorithmics' President and COO, Michael Zerbs, added: "We conducted a thorough proof of concept with Delta Reference Data Factory. It exceeded our expectations and we are very pleased to have found a solution and a firm that meets our requirements so well. We are looking forward to working with First Derivatives."

Enquiries:

First Derivatives plc	[phone]
Brian Conlon, CEO	www.firstderivatives.com
Graham Ferguson, CFO
Dale Richards, First Derivatives President Americas	[phone]
Charles Stanley Securities	[phone]
Nominated Adviser
Russell Cook
Carl Holmes
Goodbody Stockbrokers	Tel.   [phone]
ESM Advisor
Diane Hodgson
Linda Hickey
Finbarr Griffin
Threadneedle Communications	Tel.   [phone]
Financial PR
Tom Moriarty
Caroline Evans-Jones
Fiona Conroy

Stakeholder Communications PR - Ireland Carl Whyte John Hart

Tel.   + 44 (0) 2890 339949

About First Derivatives

First Derivatives is a global provider of products and services to the financial services industry. With almost 15 years experience working with leading financial institutions, it continues to deliver technologically advanced, award winning products and services that anticipate and respond to the evolving needs of global capital markets.

First Derivatives currently employs over 450 people worldwide and counts many of the world's top investment banks, brokers and hedge funds as its customers. It has operations in London, New York, Stockholm, Shanghai, Singapore, Toronto, Sydney, Dublin, Newry and Hong Kong.

About Algorithmics

Algorithmics is a leading global provider of risk solutions. Financial organisations from around the world use Algorithmics' software, analytics and advisory services to help them make risk-aware business decisions, maximize shareholder value, and meet regulatory requirements. Supported by a global team of risk experts based in all major financial centers, Algorithmics offers proven, award-winning solutions for market, credit and operational risk, as well as collateral and capital management. Algorithmics is a member of the Fitch Group. www.algorithmics.com

 

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