23 October 2017
visit www.response.ncr.com

Fidessa forecasts slowdown in H2 as consolidation trends hit market

23 October 2009  |  3918 views  |  0 Hourly Markets

Trading systems vendor Fidessa is forecasting a slowdown in growth for the second half of 2009 as consolidation trends hit smaller customers and buy-side firms.

In its interim management statement for the period from 1 July 2009 to date, Fidessa states that market conditions have continued to improve as stability and confidence have begun to return to the financial markets.

However, the vendor cautions: "The effects of the events of 2008 continue to be felt, particularly amongst our smaller customers and some buy-side firms where continued pressure has led to them re-evaluating their business models. In these areas of the market we are currently seeing some consolidation and we expect that this will continue."

On the upside, the larger sell-side players are benefitting from stabilised balance sheets and reduced capacity in the market.

"This is creating demand for our software and services both in existing regions and also across the emerging markets," says Fidessa. "However, as noted in the interim announcement, we do not believe that the overall rate of growth for 2009 will be as high as that seen during the first half particularly when the impact of currency movements is taken into account."

In its trading statement for the first half of the year, Fidessa reported revenue up 19% at £116 million and operating profit up 22% at £15.7 million, with both figures adjusted to discount favourable currency movements.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Fidessa spots first 'green shoots'

Fidessa spots first 'green shoots'

27 April 2009  |  6210 views  |  0 comments
Fidessa scoops Baikal technology contract

Fidessa scoops Baikal technology contract

21 April 2009  |  8371 views  |  0 comments
Good Fidessa results and Oracle buy-out rumours don't halt index slide

Good Fidessa results and Oracle buy-out rumours don't halt index slide

23 February 2009  |  5867 views  |  0 comments
Fidessa beats revenue/profit forecasts

Fidessa beats revenue/profit forecasts

16 February 2009  |  4793 views  |  0 comments
Online Resources and Fidessa lead big drop in Finextra50

Online Resources and Fidessa lead big drop in Finextra50

24 November 2008  |  4627 views  |  0 comments
Fidessa warns of declining visibility; Lehman exposure hits top line

Fidessa warns of declining visibility; Lehman exposure hits top line

20 October 2008  |  5487 views  |  0 comments

Related company news


Related company information

Fidessa group

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.vasco.comvisit www.innotribe.com

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
16051 views comments | 18 tweets | 31 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
13824 views comments | 22 tweets | 28 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10146 views comments | 12 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
10002 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8992 views comments | 9 tweets | 18 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job