Newry-based financial services industry software and services supplier, First Derivative,s has won a contract for Delta with Singapore Exchange.

First Derivatives says SGX has selected Delta to be a platform for internal real-time monitoring of the performance of SGX market makers.

The system is being customised and implemented by First Derivatives, together with its Singapore sales partner, BrokerEdge Systems Advisors Pte Ltd.

First Derivatives says the contract represents another important milestone in its ambitions to expand its operations into the Asian market.

"The contract with SGX provides the necessary impetus for First Derivatives to further expand its operations in Asia, building on our existing operations in Australia, China, Singapore and India. The opportunity to cross-sell other First Derivatives software solutions, as well as support and consulting services to Singaporean clients is significant. We have a proven business model which works and will apply this to the Singapore market, as we continue to grow our Asian footprint," said Paul Phillips Head of APAC Operations of First Derivatives.