In a strong sign of the continued expansion and development of the company, CEO and E&Y Entrepreneur of the Year Brian Conlon was joined at the event by Northern Ireland First Minister Peter Robinson, MLA, deputy First Minister Martin McGuinness MP MLA, Speaker of New York City Council Christine C. Quinn and Senator George Mitchell, as well as a members of New York's business community and Irish diaspora.

Over forty staff will be based at the facility, which, along with existing operations in Philadelphia, New Jersey and Toronto, will support the company's clients in the US, Canada and elsewhere.

Speaking at the event, CEO Brian Conlon said: "The North American market represents huge potential for First Derivatives and whilst we have been doing business in the US and Canada for many years, today's opening represents another milestone in the company's development. By making this significant investment, and by employing exceptional talent in the US we can fulfil our goal to establish a world-class consulting and software company which satisfies the demands of our clients on Wall St and beyond. We welcome the economic leadership shown by political leaders in Northern Ireland and the can-do approach adopted by Invest Northern Ireland in supporting local businesses. Their support has been key to our growth story."

Senator George Mitchell said: "I am delighted to be here today at the opening of First Derivatives' North American Headquarters along with Northern Ireland's political leaders. Peace is the foundation of prosperity, and I am heartened to see companies from Northern Ireland like First Derivatives now competing at a global level, employing people both in Ireland and here in the United States. As a border town Newry often bore the brunt of violence and militarisation, it is satisfying to see a company from there like First Derivatives flying the flag for Northern Ireland right here in the world's financial capital. The company is an economic beacon of success and I welcome this step in their growth in North America."

Council Speaker Christine C. Quinn said: "I am thrilled that First Derivatives has chosen to establish their North American headquarters here in New York City. The city continues to attract businesses larger and small, domestic and international. First Derivatives decision to move into the heart of the Financial District is testament to the City efforts to redevelop Lower Manhattan."

The event took place at the end of week-long tour of the United States by the First and deputy First Ministers who visited the West and East coasts.

First Derivatives, which was founded in 1996, employs nearly 600 people who work with a range of investment banks, hedge funds and financial institutions. They deliver both on-site consultancy services as well their unique financial analytics product suite- Delta -which is used across global financial centres. As one of Ireland's strongest graduate recruiters, product development is supported by a team of over eight specialists at a dedicated Research & Development division in Ireland, Australia and the US.

Thanking all those who attended, company CEO Brian Conlon added: "It is heartening to see so many people here who have made such a significant contribution to building and strengthening links across the Atlantic and on an occasion like this we can all be proud today of our achievements."