Fidessa Group Share Discussion Threads

[slowandsteady] 29/3/2011 13:03

In case anyone else is interested in ISA accounts with a non-UK address, here is what I've found out from HMRC.

You can have an ISA if you live outside the UK, but you are not allowed to pay extra funds into it.
As long as you stay out of the country for more than 5 years then there is no CGT on any profits.
There are a number of companies that don't allow you – but that's just their own rules.
There are a number of companies that have misunderstood the rules – SelfTrade.
There are a very few companies that allow it – Alliance Trust being the one I liked the best.

Regards,
S

[slowandsteady] 28/3/2011 14:50

Hello,

Does anyone know of a Share Dealing ISA that I can have without a UK address?
I'm moving to New Zealand soon and Interactive Investor (iii) don't let you keep their ISA.

HMRC do allow you to have one but you can't pay new funds into it.

Apologies for the off topic and if you've seen this message on another BB but I've added it to all my active stocks.

Thanks,
S

[wjccghcc] 14/2/2011 14:49

Looks like a downgrade.

[nellie1973] 14/2/2011 14:18

Another broker upgrade

[nellie1973] 09/2/2011 14:16

Broker upgrade

[huttonr] 08/8/2009 19:25

There are suggestions (see link) that Ffastfill is a target for Fidessa - does anyone know anything about this as a possibility?

[chector177] 15/7/2009 11:13

Seems to be on a fairly steady rise since mid Jun, any thoughts on how far it will go?

[andy_keet] 16/2/2009 10:12

DJ MARKET TALK: Panmure Raises Fidessa Group Target Price


0947 GMT [Dow Jones] Panmure Gordon raises Fidessa Group (FDSA.LN) target price to 563p from 487p. Says the company's final results are well ahead of estimates, with sales up 40% to GBP189M and pretax profit of GBP27.6M. However, despite the "excellent" results, the direction for the end-market is downwards and even though the brokerage has updated its 2009 earnings forecasts, "the results offer the best exit point before an uncertain 2009." Keeps sell rating. Shares +13% at 680p. (ISD)


DJ Fidessa Expecrs It Can Grow In 2009; Full-Yr Rev Up 40%


LONDON (Dow Jones)--Fidessa Group PLC (FDSA.LN), a trading systems supplier, said it thinks it can continue growing its business in 2009, although it said it is hard to forecast accurately in the short term.

The company said it currently has a strong order book and pipeline and is seeing only a small impact on buying cycles, as it posted revenue up 40% to GBP189.1 million in the year ended Dec. 31.

The company noted that its customers are facing exceptionally difficult trading conditions, and said it will focus on managing its costs in 2009.

Fidessa said its full-year pretax profit more than doubled to GBP36 million from GBP17.1 million.

It raised its total dividend for the full year to 24.5 pence from 18 pence a year earlier.

The company said outside of the immediate impact of the financial crisis, many of the market drivers that were present in the first half of the year have continued.

Company Web site: www.fidessa.com

-By Hannah Benjamin, Dow Jones Newswires; 44-20-7842-9298; [e-mail]

[jdb2005] 16/2/2009 09:34

FDSA now up 13% after good results this morning.

CEO confident about the future even in these difficult times as customers
show willingness to reorder - new systems improve their efficiency & effectiveness.

[jdb2005] 03/12/2008 16:21

(BUSINESS WIRE)--December 03, 2008--
Fidessa group plc (LSE:FDSA) the world leading provider of trading systems, market data and global connectivity, today announced that it has added three new execution algorithms to its BlueBox strategies suite in Canada. The new algorithms, Invisible, Price Improvement (PI) and Shadow complement Fidessa's existing algorithms that include VWAP, TWAP, POV and Arrival.
The new algorithms are fully integrated within Fidessa's Canadian trading platform and available immediately. Each algorithm is designed to help drive trading performance through greater automation and lower transaction costs while finding liquidity in Canada's increasingly fragmented market.
Martin Hakker, EVP Marketing at Fidessa, comments, "Canada is the fourth region to go live with Fidessa's BlueBox algorithms following the US, Europe and Japan. This is testament to the scalability and integration capabilities of Fidessa's core architecture globally and the flexibility of the BlueBox framework that offers algorithmic developers a cost-effective, functionally rich, technical environment to efficiently develop, deploy and control proprietary algorithms."
The Invisible algorithm is an aggressive strategy designed to access all available liquidity within a trader's pre-defined price and size requirements. The algorithm will seek out market opportunities and automatically sweep displayed markets when triggered, while remaining hidden during unfavorable market conditions.
PI and Shadow are both passive pegging algorithms that maximize execution rates at the most favorable market prices. The algorithms utilize complex randomization techniques to minimize exposure to popular gaming practices.
Hakker adds, "As fragmentation continues to evolve and trade volumes rise, our Canadian clients are increasingly demanding advanced trading solutions for executing into the market. These new strategies enable our Canadian clients to optimally execute their order flow with both passive and aggressive strategies."
BlueBox enables firms to quickly move into the algorithmic trading space by leveraging Fidessa's industrial-strength algorithms within a hosted environment. Designed with maximum flexibility, BlueBox allows traders to build, run and control their own algorithmic trading strategies. They can track key performance indicators in real-time and step in to alter parameters on the fly, slow down or speed up trading, or pause or stop the algorithm to react to changing market conditions or to mitigate risk as well as use pre-, post- and intra-trade analytics to evaluate performance.
Fidessa's BlueBox suite includes both benchmark algorithms and execution algorithms that maximize liquidity access while minimizing market impact.

[a1samu] 19/11/2008 13:00

Panmure cuts price target to 555p today.

[a1samu] 19/11/2008 12:59

Panmure cuts price target to 555p today.

[typo56] 31/10/2008 10:26

FDSA are being promoted to the FTSE250 on Tuesday 4th Nov.

[queeny2] 27/10/2008 13:16

is that it~? !!!

[ihavenoclue] 29/9/2008 12:34

Only put this up as i want to keep an eye on it and it seems some people don't like to set up discussions with graphs .. for some reason !!

[huttonr] 17/8/2008 11:29

As you say, note 14 confirms the planned payment in March 2009 - I'd missed that sentence - however, the note does say that the 2007 performance consideration has been settled - which I assume is the £7.753M noted in the cashflow statement.

So, my corrected guesses (see my note dated 11 Aug)

end 2008 cash approx £36M

end 2009 cash stays the same (£40M) since I'm only correcting the timing of the 2008 consideration payment.

However, the real point is that I am not expecting a special dividend in the next year or so, as I think they should be able to make better use of the cash for expansion either organically or by another takeover.

[a1samu] 17/8/2008 09:49

Under note 14. Business combination, to the 2008 Condensed Consolidated Interim Financial Statement, provision for the LatentZero future consideration payable is shown as £21.126M compared to the amount shown in the 2007 accounts of £23.358M, a saving of £2,232M, the result of the discounting.

The note also confirms that the contingent consideration in respect of the 2007 performance has been settled in full.

It also confirms that the value of the contingent consideration in respect of the 2008 performance has been agreed at a fixed discounted value and will be settled in March 2009.

This note makes no mention of the payment of the £7.753M.

[huttonr] 11/8/2008 18:10

I think that I was too brief in my previous note - my guesses are:

Latent zero payments outstanding (see interims)
21.126M less paid in H1 (7.753M) = 13.373M less £9.5M in shares = 3.873M in cash - which I think will be paid during 2008 H2

so, at end 2008 H2 cash generated say £6M after divs, capital spend, product development less £4M for Latent Zero = net £2M giving end of 2008 cash of £32M.

2009 should be clear of Latent Zero payments so cash should rise to perhaps £40M at end 2009 - or perhaps more with some synergy gains from joining up the two sets of software. EPS will, of course, be diluted by the extra shares issued but only approx 3% but perhaps 50p EPS will be reached?

[a1samu] 11/8/2008 11:49

According to the condensed, consolidated, interim cash flow statement for the period to 30.6.2008 a further cash sum of £7.753M was paid for LatentZero, in the six months reported.

In my previous posting, the schedule of cash balances, at y/e 2009, may be adrift by this amount.

It appears that another cash amount of £7.3M is payable in addition to the issue of further equity.

[huttonr] 08/8/2008 18:45

Thanks for the reply - I was looking at the note in the interims ...
.............
In order to allow more rapid integration of the LatentZero and Fidessa usinesses, an agreement has been made to fix the 2008 contingent
consideration for LatentZero at a discounted value. This allows LatentZero management to shift focus to the combined business rather then
being exclusively focussed on the LatentZero business
...............
It is unclear whether the agreement means that the payment will be made in 2008 - I had assumed that, since it had been discounted, it would be made during 2008 H2 - cash element presumably in line with the 2007 report - so another £4M to go this year.
Current (end of H1) cash was £30M so end of year probably £32M ??

I would think that they would let the cash increase to perhaps £50M before any special dividend - but, is there any other company worth buying?

[a1samu] 08/8/2008 14:07

From the accounts, it would seem that cash balances are likely to be made up, as follows:
...........Cash generated.....Paid for LatentZero.......Cash at end of Year/period
2006 ..........................................................£40M/Actual
2007 ............£12M..........£28M............................£24M/Actual
2008 Interim.....£6M...........................................£30M/Actual
2008.............£6M...........................................£36M/Estimate
2009.............£12M..........£15.5M..........................£32.5M/Estimate

[a1samu] 08/8/2008 13:46

Page 60 of Annual Report & Accounts 2007 says: On 27 April 2007 the Group complated the acquisitions of 100% of LatentZeroLimited, for a total consideration of up to £62.3M.

Consideration of £37.4M was paid on completion, comprising £28M cash and £9.4M of ordinary shares in Fidessa group plc.

852,239 were issued at a fair value of 1,102p each, being the closing price on 27.4.2007.

Further contingent consideration of £25.0M is expected to be paid and is dependent on the results achieved in 2007 & 2008.

The total contingent consideration comprises £15.5M of cash and £9.5M of ordinary shares.

[huttonr] 07/8/2008 17:50

Alsamu
Have you remembered the remaining payments needed for the Latent zero earnout?

[a1samu] 06/8/2008 16:14

Earnings per share

2008 interim to 30.6.2008
actual 53.1p

2008 estimate 70p

cash balances

2008 interim to 30.6.2008
£30M up from £24M

Another special dividend payment with the 2008 final results?

[a1samu] 12/5/2008 14:26

Aim price 1150p

Earnings per share

2007 actual
38.7p

2008 estimate
46.79p

2009 estimate
52.84

Last updated on 12.58