Royalblue and Ffastfill explore tech pact
12 November 2004 | 4069 views | 0
Dealing technology vendors Royalblue and Ffastfill are to collaborate on the development of applications for trading in both the cash equities and derivatives markets.
Both companies say they are seeing strong demand for software which supports both the cash and derivatives markets, and believe that "co-operation may be in the long term interests of their customers in ensuring the fastest time to market for their product functionality".
The closer collaboration follows the appointment by royalblue of Stephen Grob to spearhead the company's push into the derivatives markets. Grob was previously a founder and chief executive of Future Dynamics, the back office futures and options technology firm that was recently acquired by Ffastfill.
Chris Aspinwall, CEO of royalblue says: "It was natural that we would explore working with FFastfill. We have been very impressed with their technology and feel there are a number of areas, such as exchange connectivity, where they could help to significantly reduce the time to market for combined cash equity and derivatives applications."
Simon Barnby, fidessa business development manager at royalblue rejects suggestions that the agreement is a prelude to a take-over or exchange of equity between the two vendors.
Ffastfill ysterday reported widening first half losses on the acquisition of Future Dynamics and increases in fixed costs.