Announcement

2
NOVEMBER
2015


Category Label


Client Announcements

First Derivatives : Contract win with National Stock Exchange of India

  •  
  •   02 November 2015

RNS Number : 0978E

First Derivatives PLC

02 November 2015

 



First Derivatives plc

("FD" or the "Company")

 

Contract win with National Stock Exchange of India (NSE)

 

FD (AIM:FDP.L, ESM:FDP.I), a leading provider of software and consulting services, is pleased to announce a contract win with the National Stock Exchange of India Limited (NSE) for a range of next generation trading services, based on FD's kdb+ software platform. Following successful user testing, the system has gone live and as a result NSE is now able to provide its clients with the capability to test their algorithms before they are made live.

 

The NSE, set up in 1992, is a thought leader in the deployment of technology to improve trading practices. This contract has the potential to serve as an example towards improving the robustness of exchange trading platforms on a global basis and also in providing additional, value-added services to market participants.

 

The contract also adds a flagship global Exchange to FD's customer base in a strategically important region. Under the contract, FD will provide an Algorithmic Testing Facility which will allow NSE market participants to test the impact of their algorithms before they are deployed in production, using trade simulators to replay historical data, create market "noise" and generate extreme market shocks to fully explore the robustness and efficacy of new algorithms.

 

Ravi Varanasi, Chief, Business Development, NSE commented: "The system is expected to deliver value added services to the market participants. We can now provide Algo Test facility and accompanying data analytics to the market participants when they want it. Through individual, group and crowd tests the market participants may track an algorithm's efficiency within and across clients."

 

Brian Conlon, Chief Executive Officer of FD, commented:  "This is an important win for FD, once again referencing our software's ability to manage large volumes of real time data and, in this case, help Exchanges protect their integrity while allowing their market participants to deploy algorithms quickly and safely. We are delighted to welcome NSE as a client."

 

 

Enquiries:

First Derivatives plc

+44(0)28 3025 2242

Brian Conlon, Chief Executive Officer

www.firstderivatives.com

Graham Ferguson, Finance Director

Ian Mitchell, Head of Investor Relations

 

 

 

Investec Bank plc
(Nominated Adviser and Broker)

+44 (0)20 7597 4000

Dominic Emery

 

Carlton Nelson

Sebastian Lawrence

 

 

 

Goodbody (ESM Adviser and Broker)

+353 1 667 0420

Linda Hickey

Finbarr Griffin

 

 

 

Walbrook PR

+44 (0)20 7933 8780

Paul Cornelius/ Nick Rome/ Helen Cresswell/ Sam Allen

 

 

 

 

About FD

 

FD is a global technology provider with nearly 20 years of experience of working with some of the world's largest finance, technology and energy institutions. FD is the developer of the world-leading database technology kdb+. FD employs over 1,400 people worldwide and has operations in London, New York, Stockholm, Singapore, Hong Kong, Tokyo, Sydney, Palo Alto, Toronto, Philadelphia, Dublin, Belfast and its headquarters in Newry.

 

For further information, please visit www.firstderivatives.com

 

About National Stock Exchange of India

 

In its 20 year history, NSE has transformed the capital market, based on technology, innovation and high standards of governance and management practices. NSE's business practices, product innovation and high levels of integrity have earned it the trust of the financial market worldwide. Besides being a platform of choice for all exchange traded financial products in India, NSE's flagship index, the Nifty 50, has become a benchmark as a national level economic parameter. According to the World Federation of Exchanges' ratings, NSE is the largest exchange in the world in currency options and index options and third largest in cash market trade. Among the many accolades won by the exchange, the recent and coveted CII-EXIM Bank Prize for Business Excellence is a recognition of this remarkable journey.


For further information, please visit www.nseindia.com

 

 


This information is provided by RNS

The company news service from the London Stock Exchange

 

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