Belfast Telegraph

Trading software firm finds success Down Under

By Margaret Canning

Software developed by an AIM-listed company based in Newry is being used by one of the biggest banks in the Asia-Pacific region.

First Derivatives, which is also listed on the Irish Stock Exchange, said its Delta Stream market data capture and analytics solution was being used by Australia and New Zealand Banking Group (ANZ) in its Melbourne and Sydney trading centres.

Luke Marriott, ANZ global head of eFX and franchise, said: "The performance of Delta Stream and the kdb+ database has been impressive.

"Even in the face of recent volume spikes the system has continued to perform faultlessly with inherent ability to scale to meet future business expansion.

"Complex analytics have been produced in days, providing both real-time and historic management information to the heads of foreign exchange trading operations across all currencies."

Brian Conlon, chief executive and founder of First Derivatives, said the growth of foreign exchange trading volumes had created demand for 'real-time' solutions like those developed by his company - founded in a bedroom in his mother's house in the 1990s.

"We see our business relationship as a future partnership for both organisations and will ensure ANZ remains competitive as it expands its global foreign exchange strategy," Mr Conlon said.

Last year the Newry businessman was named Ireland's entrepreneur of the year by accounting firm Ernst -amp; Young.