First Derivatives secures investment from Invest NI

17 Feb 2010

The Belfast-based specialist Irish software company First Derivatives has said it has secured financial investment from Invest Northern Ireland (NI) towards supporting its ongoing research and development (R&D) efforts.

The commitment from Invest NI is for a £355,000 facility which will be used to support First Derivatives’ investment in market research and product development. A proportion of the investment is being provided by the European Regional Development Fund.

First Derivatives said it expects the funds will be drawn down during 2010. The new investment follows on from a previous commitment of some £3 million from Invest NI, which was announced in January 2009.

“The financial investment from Invest NI will assist in our plans to enhance the product side of the business.  The investment will ensure that our software portfolio continues to expand globally and will enable the acceleration of research and development as we aim to improve our offering to our customers,” said First Derivatives CEO Brian Conlon.

Founded in 1996, First Derivatives supplies software and support services to the financial services and technology industries.

The company currently employs more than 400 people worldwide and counts many of the world’s top investment banks and hedge funds as its customers. It has operations in London, New York, Stockholm, Shanghai, Singapore, Toronto and Hong Kong.

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