The Newry company, which is a provider of software, risk management systems and consulting services for global financial institutions, is making the investment to expand its core capital markets consulting business. Invest NI has offered Â£4.3million of support towards the expansion project.
First Minster Peter D. Robinson said: "First Derivatives is one of our most successful indigenous software companies, which has fuelled its growth by continuously developing and delivering innovative products and services in the complex and technically challenging financial services arena. Creating 359 quality jobs in this high value sector with support from Invest NI, this significant investment is a tremendous boost for the local economy."
Deputy First Minister Martin McGuinness said: "First Derivatives is part of an important and growing hub of technical expertise in financial services which continues to attract international attention and investment at a critical time for our economy. The new jobs will generate over Â£13million in salaries annually which will feed into the local economy. This is an investment which will have a very positive knock-on effect for our growing financial services and technology sectors."
First Derivatives is recognised as one of the fastest growing capital markets vendors in the world and its clients are largely Global 100 financial institutions.
Brian Conlon, CEO, First Derivatives plc, said: "First Derivativesâ strategic goal is to differentiate itself from its competitors through a unique combination of capital markets domain knowledge and technical expertise in financial services technologies. With this expansion we are substantially increasing our capacity in the area of capital markets consulting with the aim of growing our global business significantly over the next three years."
Enterprise Minister Arlene Foster, added: "Supporting the creation of high value jobs with salaries significantly above the Northern Ireland average is a key corporate focus for Invest NI, as is encouraging export growth. First Derivativesâ investment supported by Invest NI combines both of these elements by creating quality jobs to help it target markets in Europe, North America and the Asia Pacific region."