28th Apr 2016 06:47
LONDON (Alliance News) - Fidessa Group PLC, which provides trading, investment and information software and services to the financial community, on Thursday said "opportunity" could be coming back to the capital markets, and that closures among its client base will reduce with the return of stability.
The FTSE 250 company reiterated that it still expects constant currency growth in 2016 to be at a similar level to what was achieved in 2015, with "good single-digit" growth in core-equities and continued double-digit growth in recurring derivatives revenue.
Fidessa said it expects to make strong progress with its multi-asset initiative, and believes it's on track to achieve profitability within its derivatives business within the next three years.
The company did not say whether or not it will enter the fixed income market with a platform, though it is looking at the "possibility of extending its asset class coverage further".
"Fidessa believes that across all asset classes, the market is moving towards service-based offerings and believes that there are increasingly few vendors capable of meeting its customers' business requirements whilst also having the scale and infrastructure necessary to handle the latest compliance demands being made by the regulators," the company said in a statement.
By Samuel Agini; [email protected]; @samuelagini
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