Minister announces £3.9 million grant for First Derivatives supporting expansion

First Derivatives plc (FD) (LON:FDP), a global provider of trading and risk management software systems and consulting services for multinational financial institutions announces a major investment supported by Invest Northern Ireland (INI) to create 484 new high quality jobs in its headquarters in Newry.

The announcement of Invest NI’s grant assistance, for a total of £3.9 million in support of the expansion of employment, was made by First Minister the Rt. Hon. Peter D. Robinson MLA, and deputy First Minister Martin McGuinness MP, MLA.

First Derivatives is one of the fastest growing capital markets vendors in the world with its clients being selected largely from the top 100 global financial institutions. It currently employs over 900 staff worldwide with business locations in Newry, Belfast, Dublin, London, New York, Philadelphia, Hong Kong, Tokyo, Singapore and Sydney.

First Minister Peter D. Robinson said: “I very much welcome that today’s investment will see First Derivatives Group grow its staff to almost 1,500 worldwide with clients from the top 100 global financial institutions. First Derivatives is one of Northern Ireland’s most successful indigenous software companies and should be commended on its remarkable achievements in what is a highly competitive global market.”

The increase in headcount will enable FD to continue the expansion of its software and consulting business. This sustained growth ability is possible due to its range of business propositions like its innovative Near Shore services that have proven popular with customers who see the joint benefits of reduced cost and swift access to high caliber capital market consultants that traditional outsourcing methods often fail to provide.

Brian Conlon, CEO, First Derivatives plc said: “These investments will substantially increase the capacity of First Derivatives to develop new business in export markets. Critical to the success of both businesses is the quality of staff, and we know from experience that we can recruit excellent staff locally, Invest NI’s ongoing support continues to be essential to our growth plans.”

First Derivatives (LON:FDP) share price was trading up on the day roughly 1.6%. YTD, the stock is down around 25%.

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