Leading financial software company to set up in Belfast

Feb 20, 2008

Invest Northern Ireland today announced that Fidessa group plc, the leading financial markets software and services company, is to set up a development centre in Belfast.

Fidessa group provides multi-asset financial trading, portfolio analysis, decision support, investment compliance, market data and global connectivity solutions, through its Fidessa and LatentZero product suites, to both brokers and investment firms globally.

The Belfast centre will be central to the development of such software products for the international market with 26 highly skilled software programming jobs expected to be created. Fidessa expects to invest around £2.5 million over the first three years and Invest NI has offered support of £244,000 towards the project.

Welcoming the announcement, Leslie Morrison, Invest NI’s Chief Executive, said: “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 multi-national companies who already have centres here.”

Fidessa serves around 22,000 users across 520 clients worldwide. Fidessa’s products are used by over 85% of global, tier-one equity brokers as well as by many of the world’s largest asset managers. The investment includes a comprehensive training programme for new staff which will create niche skills in a high value market.

Chris Aspinwall, Fidessa group’s Chief Executive, added: “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 the pool of high quality software engineering skills that are available. Through this investment, Fidessa will provide exciting career opportunities at the leading edge of the fast-moving, dynamic financial trading marketplace.”

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