First Derivatives receives grant from Invest NI

RNS Number : 1421C

First Derivatives PLC

02 March 2011

 

2 March 2010

First Derivatives plc

("First Derivatives" or the "Company")

First Derivatives secures £4.3m revenue grant from Invest Northern Ireland

First Derivatives (AIM: FDP.L, IEX: GYQ.I), a leading provider of software and consulting services to global investment banks and hedge funds, is pleased to announce that it has secured financial support from Invest Northern Ireland ("Invest NI"), the Northern Ireland Economic Development Agency, that will enable the Company to embark on a programme of expansion for its capital markets consulting business.

The commitment from Invest Northern Ireland is for £4.3 million and is to support the Company in the creation of 347 new consultancy and operations positions and 12 new managerial posts over the next 3 years. The grant will enhance the operational infrastructure and near shore capabilities necessary to support the increasing demand for its consulting services.

Brian Conlon, Chief Executive, said: "This support from Invest NI will help us to execute an aggressive growth strategy that will capitalise on the opportunities we are being presented with from our global client base.

For further information please contact:

First Derivatives                                                                                                     [phone]

Brian Conlon, Managing Director                                                     www.firstderivatives.com

Graham Ferguson, Finance Director

Charles Stanley Securities, Nominated Adviser                                       [phone]

Russell Cook

Carl Holmes

Goodbody Stockbrokers, EMI Adviser                                                                  [phone]

Diane Hodgson

Linda Hickey

Finbarr Griffin

Walbrook PR                                                                                                            [phone]                  

Bob Huxford                                                                                    [e-mail] 

Jack Rich                                                                                                     [e-mail] 

About First Derivatives

First Derivatives is a global provider of software and consulting 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 500 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, Singapore, Toronto, Sydney, Dublin, Newry and Hong Kong.

For more information about the Company, please visit www.firstderivatives.com.

 

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