A software provider to the financial services industry, with offices worldwide including Newry and Dublin, has won a significant contract with Singapore Exchange (SGX).

First Derivatives will customise and implement Delta system to be a platform for internal real-time monitoring of the performance of SGX market makers.

The contract represents an important milestone in First Derivatives' ambitions to expand its operations into the Asian market.

Brian Conlon, First Derivatives chief executive said: "I am very pleased that our effort in targeting the exchange market has resulted in this significant contract with SGX. Not only does it give additional credibility to the Delta platform but also strengthens our position in the Asian market as an enterprise software provider."

Paul Phillips, head of APAC Operations of First Derivatives said: "The contract with SGX provides the necessary impetus for First Derivatives to further expand its operations in Asia, building on our existing operations in Australia, China, Singapore and India.

"We have a proven business model which works and will apply this to the Singapore market, as we continue to grow our Asian footprint."

First Derivatives currently employs over 450 people worldwide and has operations in London, New York, Stockholm, Shanghai, Singapore, Toronto, Sydney, Dublin, Newry and Hong Kong.