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First Derivatives targets Asia with BrokerEdge alliance

01 February 2010  |  1667 views  |  0 Source: First Derivatives

First Derivatives (AIM:FDP.L, IEX:GYQ.I), a global capital markets software provider today announces a strategic alliance with BrokerEdge to distribute First Derivatives' Delta product suite to the Singapore and Malaysian markets.

First Derivatives' Delta product set is the Company's high performance modular suite of real-time trading, CEP, market and reference data, accounting and risk management applications launched in 2008. Delta Algo provides the necessary performance and flexibility required to engineer, back-test and deploy a wide range of trading strategies, and to manage associated risk in real-time. The technology is already in use at a number of the world's leading financial institutions.

Brian Conlon, Chief Executive Officer of First Derivatives commented, "We have a focus on growing our business in the Asia-Pacific region and as part of that expansion we are delighted to announce the agreement with BrokerEdge. This follows on from our recent distribution agreement with Religare Technologies addressing the Indian market, and our acquisition of Lepton Solutions Pty Ltd in Australia last year.

"Markets throughout Asia are becoming increasingly sophisticated and with that comes a demand for the high-frequency, low-latency trading and the management of the associated risk for which the Delta suite has been designed. Singapore and Malaysia are at the forefront of advances in financial markets in the region and BrokerEdge is ideally placed to help grow our business there."

Daniel Tan, Chief Executive Officer of BrokerEdge stated, "We are pleased to be selected by First Derivatives as its partner for expansion to this marketplace. The strategic partnership combines BrokerEdge's intricate understanding of the Equities & Derivatives Markets in the region and First Derivatives' global leading expertise in High Performance Trading, Market and Reference Data and Risk Management systems.

"This partnership is uniquely positioned to serve the rapidly growing High-Velocity and Algorithmic Trader communities on the Singapore and Malaysia Exchanges."

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