First Derivatives Raising £15.3M to Accelerate Big Data Plans

Earlier in the year it was reported that financial technology provider First Derivatives was expanding its "big data" services to enter new markets with the launch of Delta Marketing Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term. The diversification was on the heels of their taking a larger ownership stake in Kx Systems, a data Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term solutions provider.

Following on their expansion plans, First Derivatives has announced that they are raising £15.3 million in a secondary placement of 1,177,003 shares at £13 per share. The placing is being undertaken by Charles Stanley Securities and Goodbody, with shares sold to new and existing institutional investors.

Following the sale, First Derivatives expects net proceeds of £14.7 million which will be used to “pursue certain additional growth opportunities which the Board has identified.” Included in these opportunities are strengthening market share in the financial sector as well as providing capital assistance for their big data plans into new verticals. In its plans for new markets, First Derivatives stated plans of partnerships and acquisitions. As such, it can be expected that First Derivatives may continue to buy technology assets in the data analytics sector.

In their statement to shareholders, the firm mentioned that the current share sale was based on receiving positive feedback from investors about their big data plans and expansion into new markets. On this, First Derivatives CEO Brian Conlon commented, “I would like to thank existing investors for their continued support and welcome new investors to the Company. Our recent investment in Kx Systems and preliminary market research in other verticals, strengthens our view that we can generate significant additional returns for shareholders by expanding our Fast Data offering beyond capital markets."

The placement will take place in two tranches. The first sale, which will include 977,000 shares that the firm currently has authorization to place, will take place next week. The second sale of 200,003 is pending shareholder approval at First Derivatives General Meeting which takes place on March 3rd.