First Derivatives (AIM: FDP.L, IEX: GYQ.I), a leading provider of software and consulting services to global investment banks and hedge funds, today announces a strategic vendor services practice focused on the delivery of implementation and support services for leading 3rd party trading technology platforms. First Derivatives shall launch their initial services based on Calypso Technology, the premier capital markets platform, to provide professional services to Calypso‟s global customers. The service is a natural extension of First Derivatives well established origins in Calypso strengthened with their outstanding cross asset trading, risk management and processing Capital Markets skills.
The strategic aspect of the practice is a focus on streamlining processes for implementation, support and upgrades with the aim of reducing the total cost of ownership for their clients. The announcement leverages upon the considerable investment that First Derivatives has made in their Capital Markets Consulting division where continued global expansion will result in that team growing to over 500+ highly skilled consultants in 2012. This expansion places the company at the forefront of the rapidly developing and competitive space around the implementation, upgrade and support of key 3rd party trading technologies. This is an important step on the company‟s consulting roadmap to build a global practice with front to back services based on market leading 3rd party trading technologies.
“First Derivatives understands the challenges facing institutions as they embark on implementing 3rd party vendor systems. Our considerable expertise and exceptional reputation allows us to truly provide full lifecycle support across the most difficult and technologically challenging projects‟, says Brian Conlon, CEO of First Derivatives. „The Calypso services initiation is a very critical part of our vendor services strategy. Our reputation has been built on providing value and expertise to our capital markets clients. Calypso is at the forefront of technology solutions and we are wholly committed to providing excellence and to reduce time to market alongside continuing our pragmatic commercial approach”.
The company shall focus upon consolidating and expanding their experience in providing full services and resourcing from the initial assessment of vendors systems, the de-commissioning of legacy systems through to implementing and supporting Calypso with the directive of steering clients towards long term stability of usage in relation to their 3rd party systems. First Derivatives highly value the importance of establishing longstanding relationships with their clients and have invested greatly in their methodology and services for Calypso implementation and support. Their vendor services practice addresses the market need to deliver highly capable 3rd party vendor services, responding with expertise to client‟s needs, resulting in high end user client satisfaction.
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