First Derivatives (AIM:FDP.L, IEX:GYQ.I), a leading provider of software and support services to the financial services and technology industries, is pleased to announce that it has secured financial investment from Invest Northern Ireland ("Invest NI") (Northern Ireland’s Economic Development Agency) towards supporting its ongoing research and development efforts.
The commitment from Invest NI is for a £355,000 facility to be used to support the Company’s investment in the field of market research and product development. The investment, a proportion of which is provided by the European Regional Development Fund, will ensure that First Derivatives continues to develop best in class solutions for its recognised product brand in the financial services sector. The Company anticipates that these funds will be drawn during the course of 2010. This follows previous investment of some £3.0m from Invest NI, announced in January 2009.
Chief Executive Brian Conlon commented: “The financial investment from Invest NI will assist in our plans to enhance the product side of the business. The investment will ensure that our software portfolio continues to expand globally and, will enable the acceleration of research and development as we aim to improve our offering to our customers.”
First Derivatives develops, implements and supports a broad range of mission critical trading and risk management systems across front, middle and back-office operations for many of the world’s leading financial institutions.