Banks, insurers and asset managers are under pressure to boost efficiency and comply with new regulations following the financial crisis. The upheaval has fuelled demand for trading, workflow and compliance software from Fidessa (FDSA): adjust for currency movements and both sales and operating profit climbed 4 per cent in the reported period.
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Revenue climbed 9 per cent at floating currencies to £147m in the key sell-side division, as sales of equity-trading tools and derivatives-focused offerings climbed 6 per cent and 30 per cent respectively. One coup was the sale of a platform to ABN AMRO, allowing the Dutch bank to offer its customers low-latency access to more than 110 different markets worldwide.