Future Dynamics goes for growth following funding close

Future Dynamics goes for growth following funding close

Derivatives trading software house Future Dynamics says it will launch five new products and recruit 50 extra staff following completion of a second round of funding.

The funding, which raised an undisclosed sum, was led by European venture capital investment firm Catalyst. Future Dynamics says it will use the new money to: expand its geographical reach; introduce new applications for revenue modelling, reconciliation, and charting and analysis, and further develop its handheld product, pocketcrossfire; improve software development and support; and provide additional resources for Comdev, the company's component-based consulting and services division.

Steve Grob, FD’s CEO says: "We are now beginning an active recruitment drive and are looking to employ 50 people within the next six months."

He adds: "Because of our revenue model, we have no need for the 'dash-for-cash' approach of some of our competitors, and so would see a public listing very much as a simple recognition of what the business had become."

The Future Dynamics portfolio offers an end-to-end solution for derivatives trading, from pre-trade order entry to execution, settlement and Web-based updating.

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