Fd Technologies Public Share Discussion Threads

[scottishfield] 22/10/2014 11:34

Added. Transformational is. well, transformational.

[gucci] 22/10/2014 09:24

Goodbody 01/04/2014
Reiterates
Buy Buy 0 955.00 1,400.00 1,145.00

[gucci] 22/10/2014 09:22

excellent chart

[rochdae] 22/10/2014 00:27

Hi Lauders, only hold Nano and FDP, not CNKS. Think FDP will accelerate from here into and after results. Nano a 4-year hold for me. I expect a 10-fold rise over that period.

See what happens...

Roch

[lauders] 20/10/2014 02:01

I see you hold shares in a few I hold or am interested in rochdae. Which do you like most of FDP, CNKS and NANO in the shorter term? Probably this one? Long term they will probably all come good I would hope!

[rochdae] 19/10/2014 19:45

Agree that this looks set for some strength. Too much good news and results will be more than solid. Excellent value at this level anyway.

Roch

[moorsie2] 18/10/2014 00:06

This will now test and surpass all time highs within months..

[rochdae] 17/10/2014 21:13

Yep, transformational in the real sense of the word. Going way higher imo.

[johnroger] 17/10/2014 20:35

UK-Analyst comment tonight

Financial software provider First Derivatives (FDP) retained its "buy" rating from Panmure Gordon after announcing that it would turn a minority position in database vendor Kx Systems in to a majority stake. The broker describes the move as transformative, opening the business to a number of new verticals outside the financial industry, as well as strengthening First Derivatives' existing offerings. The shares rose by 71.5p to 1,054p.

[aishah] 17/10/2014 13:47

Techmarket View:

First Derivatives – securing its Big Data position

logoFirst Derivatives, provider of software and consulting to capital markets, is making strides. It has built a strong position in forex with 15 customers among the big traders in that very competitive market and has won two important orders in the growing area of Market Surveillance, with the Australian SIC and the US IEX (the subject of “Flash Boys”, see here). It is now moving to secure a major component of its success and thus open up more opportunities in “Big Data” and the “Internet of Things”.

First Derivatives Capital Markets propositions are driven from its Delta Platform which is powered by the kdb+ database from Californian Kx Systems. This is a high performance in-memory database that is well suited to fast moving time series data (“up to 8x faster than the previous best” Source: US Securities Technology Analysis Center). First Derivatives has worked with Kx since 2002.

First Derivatives is to take a majority stake in Kx, acquiring a short 50% for £36m, taking its holding to 65%. In 2013 Kx generated revenues of $13.6m and pre-tax profit of $8.8m. The co-founders of Kx will remain in charge of the operation with one of them joining the First Derivatives board.

First Derivatives (now 1000+ people) will provide extra resources as the expanded group moves to exploit additional verticals (e.g. pharmaceuticals, energy and utilities), driving additional database and consulting revenue. However, First Derivatives must avoid being distracted from realising the substantial potential it has within Financial Markets.

Following good financial performance last year, First Derivatives is winning key orders in growth areas of capital markets. Securing a key component of its success adds to the likely upside as Big Data grows in importance. It looks like First Derivatives is on a roll.

[blackbox1] 17/10/2014 10:47

Moorsie

So the company pays £36m for (call it) 47% of Kx. Thats about $59.4m at current RoE.

All of that gives an EV to Kx of about $126m (65% of which is now owned by FD).

That is a EV/Sales muptiple of 9.26 ($126/$13.6). I have no idea what Kx EBITA is, so this measure is the best I can figure out.

At 3x the AIM Tech Index market cap weighted valuation for this size of company in the UK its not exactly shopping at Aldi, but they have got their hands on a fabulous product. To me, this positively impacts the likely multiple applied to FD in the event of a trade sale.

[moorsie2] 17/10/2014 09:18

Fantastic deal - FDP have been trying to do this for 10 years!

This is transformational and fully integrates the offer and the attractiveness of the company to future bidders..

[blackbox1] 17/10/2014 09:14

It's been a long time coming, but the final piece of the company's software portfolio is now in place. Anyone familiar with the nitty-gritty of KX knows that in the right hands it is capable of outperforming its competition. It's vast data handling and instantaneous Analytics capability are best in class.

I'll bet this is what got Ferguson to up his shareholding a few months ago.

I'll also bet that the deal was 'private' in that Oracle, IBM, Sungard etc were not invited to participate.

FD now add a roll call of the leading investment banks, hedge funds and other Cap Mkt participants to their software client list.

Shareholders should be set fair for a while now as Conlon & co go into overdrive.

[protean] 17/10/2014 08:52

Certainly sounds positive.

"Transformational is a term often overused in the technology industry, but in this case I can confidently use it to describe the impact this transaction will have on our collective prospects."

Very good recent relative strength of the share price compared to the indices lately too.

Looks like a new uptrend may be starting with price now making higher highs on the chart.

[rochdae] 17/10/2014 08:45

Excellent stuff...

Back through 1000 with results on 5 November. This can really motor at times... going way higher imo. Grabbed some more this morning.

[slacker22] 17/10/2014 08:17

First Derivatives (AIM:FDP.L, ESM:FDP.I), a leading provider of software and consulting services to the financial services industry, today announces it has reached agreement with the founders of Kx Systems ("Kx") to acquire a further 46.47% stake in Kx for a total consideration of £36.0m.  As a result First Derivatives' holding in Kx will increase from its current 20.1% to 65.2% on a fully diluted basis. This increase in holding is expected to be earnings enhancing in the current financial year for the Company.

[swiss paul] 06/10/2014 19:30

And from the shop floor

hxxp://www.glassdoor.com/Reviews/First-Derivatives-Reviews-E35766.htm

[protean] 06/10/2014 14:01

2nd largest holding in the fund according to the Trustnet article.

"Given the earnings growth expectation of close to 20 per cent per annum for the foreseeable future, a P/E ratio of 21 is undemanding, especially given the potentially transformational impact of large contract wins,” Slater said.

[rochdae] 06/10/2014 13:59

Yes, bought into these. Come alive again and a major holding of slater's fund.

[protean] 06/10/2014 13:53

Buying interest seems to be picking up today.

First higher swing high if price closes here. Could be the start of a new uptrend driven by the recent contract news and positive trading update.

[gucci] 06/10/2014 13:41

nice rise today.
any targets here?

[aishah] 02/10/2014 22:03

NEW YORK – Sept. 3, 2014 – IEX, a rapidly growing equity trading venue dedicated to institutionalizing fairness in the financial markets, announced today it has completed a $75 million round of funding led by Spark Capital. The round included broad participation from a cross-section of investors, including Bain Capital Ventures, MassMutual Ventures, the corporate venture capital arm of Massachusetts Mutual Life Insurance Company, and global investment manager Franklin Resources, Inc. Other participants in this round include private investment firms Cleveland Capital Management and TDF Ventures, and renowned visionaries and entrepreneurs Jim Clark (Netscape) and Steve Wynn (Wynn Resorts). The financing will be used to pursue registration as a U.S. national exchange and to explore other opportunities to leverage IEX's unique brand, capabilities and market position.

"Our intention from day one was to challenge the status quo by building a market that prioritizes the needs of traditional investors and issuer companies," said IEX Group Chief Executive Officer and Co-Founder Brad Katsuyama. "We are encouraged by our recent growth, which has been driven by both investors and their brokers. This additional capital enables us to build and operate a world-class stock exchange."

Since Q1 2014, IEX has tripled its daily trading volume, and in recent weeks, participant volume has exceeded 100 million shares per day.

Spark Capital General Partner Alex Finkelstein will join IEX Group's Board of Directors as part of the financing. "The best way to truly improve the way that the financial markets work is by giving investors and brokers an opportunity to vote with their trades for a fairer marketplace," said Finkelstein. "We believe in IEX's vision of next-generation capital markets, and we're confident that the IEX team will successfully change the way that Wall Street operates for the better."

"We chose to partner with Spark Capital because, like IEX, they are a trust-based firm that is focused on the entrepreneur's mission." said Katsuyama. "From the very beginning, they showed a meaningful commitment to supporting our vision for the future of capital markets. Their history of helping companies such as Twitter and Wayfair accelerate the network effect of adoption has parallels to scaling a successful stock exchange."

IEX Group's consortium of institutional investors also includes The Capital Group, Brandes Investment Partners, Greenlight Capital, Senator Investment Group, Pershing Square Capital, Maverick Capital, Scoggin Capital Management, Belfer Management, Kistler Associates and Third Point Partners.

"We feel extremely fortunate to bring together such an unprecedented and unique group of investors who believe in a common vision – to build a stock exchange in the best interests of companies and investors," said Katsuyama.

Should bring in more customers on the back of this IEX deal imo