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First Derivatives Signs Software Licensing Deal with Algorithmics

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First Derivatives, a provider of software and consulting services to the capital markets industry this morning announced that it has reached an agreement with Algorithmics for the use of Delta Reference Data Factory.

Under the terms of the deal, Algorithmics will use Delta Reference Data Factory as the reference data engine with its risk management systems. The deal represents a strong win for First Derivatives and is a validation of Reference Data Factory platform, acquired by First Derivatives in 2009.

First Derivatives president Americas Dale Richards commented: “We are delighted to announce this deal for Delta Reference Data Factory. Algorithmics is a leading player in risk management and their requirements for reference data management are comprehensive and forward looking. Algorithmics’ selection of Delta is a strong endorsement, and demonstrates the value of our proven capabilities and open architecture.”

Delta is First Derivatives’ powerful and growing suite of capital markets software. Delta Reference Data Factory is an open platform for managing reference data with off-the-shelf and configurable feed handlers, data model/transformation engine and distribution/enrichment suite.

Algorithmics’ president and COO, Michael Zerbs, further commented: “We conducted a thorough proof of concept with Delta Reference Data Factory. It exceeded our expectations and we are very pleased to have found a solution and a firm that meets our requirements so well. We are looking forward to working with First Derivatives.”

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