Fidessa eyes flat year as slowdown persists
Trading systems developer Fidessa warned persistent challenges in the financial markets has weighed on third quarter equity market volumes and the on-going pressure means that full year 2012 revenue is likely to be unchanged from the year before.
Trading systems developer Fidessa warned persistent challenges in the financial markets has weighed on third quarter equity market volumes and the on-going pressure means that full year 2012 revenue is likely to be unchanged from the year before.
"In the short-term, the impact of continued adverse conditions in the equity markets is likely to offset the strong growth Fidessa is achieving from its solutions to the derivatives markets," it said in a statement.
Fidessa, which provides technology to connect brokers and institutions to trading venues, said its customers are becoming yet more cost constrained and it seems unlikely that there will be significant improvement any time soon.
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The London based group said it will continue to develop opportunities, execute its growth strategy and push further into the multi-asset arena in a bid to boost revenue.
As a result of this investment and the on-going market conditions, the group expects margins to be slightly below that seen in recent years, it explained.
"Looking further ahead, Fidessa believes that stability and opportunity will return to the markets and that reduced headwinds, coupled with further openings as its multi-asset initiative gains momentum, will enable it to return to growth levels closer to those seen in the past," it added.
"Fidessa will maintain its strategy of investment in the business to make sure that it brings the right solutions and services to its customers across all the regions in which it operates."
CJ
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