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.