There was jobs joy for Northern Ireland today when a financial services company announced it was to create nearly 150 jobs.

At the same time, US sandwich chain Subway said it planned to generate up to 400 jobs across the province over the next two years.

First Derivatives is a leading provider of consultancy and software solutions to the capital markets industry across the globe.

Focusing on financial institutions, it develops, implements and supports a broad range of trading and risk-management systems.

The creation of 132 new consultancy positions and 10 managerial posts will double the size of the company.

Announcing the expansion, Northern Ireland Economy Minister Arlene Foster said since its establishment in 1996 the company had grown into one of the region's most innovative and successful export companies.

"Central to its success has been a focus on the continuous development of its consultancy services and software portfolio which have attracted most of the world's largest financial institutions as clients," said the minister.

Headquartered in the border city of Newry, Co Down, the company has ongoing assignments in many of the world's leading financial centres such as London, New York, Frankfurt, Hong Kong, Singapore, Philadelphia, Toronto, Stockholm and Dublin.

Northern Ireland's business agency, Invest NI, has offered over £3 million to support the project - including an element of staff skills development part funded by the European Regional Development Fund.

Mrs Foster said the latest investment would support the company's export strategy for the global financial services sector and was geared towards creating jobs which would put an additional £11.6 million in salaries into the local economy over the next two years.

"This is extremely positive news from a home-grown company at a time where many local firms are feeling the effects of the global economic downturn.

Company chief executive Brian Conlon said: "Over the last 12 years, First Derivatives has developed a recognised brand in the financial services sector.

"Our niche products and services continue to enjoy strong demand. Critical to this success has been innovation across all areas of the business, as well as significant investment in training and development."

He said their consultancy services helped institutions within the capital markets industry to develop, implement and support a broad range of trading and risk management systems across front, middle and back office operations.

"Ultimately, this results in streamlined operations, reduced costs and enhanced risk management - critical factors at any time but particularly in the current economic climate," he said.

Meanwhile Subway, which has 87 Northern Ireland outlets among more than 1,400 across the UK and Ireland, said up to 400 jobs would be created with the opening of 40 more franchise outlets in the province - continuing the growth which saw 17 open last year.