Fidessa finds bright spots in a tough market

Fidessa, which creates and operates trading software for City firms, warned investors yesterday that growth would be slower than last year as conditions would "remain difficult for some time".

The group has managed to increase sales thanks to larger corporate customers, but smaller clients are feeling the pressure and Fidessa expects "more of these firms will consolidate or leave the market during the year".

The group said there should still be "good opportunities for growth" in the derivatives market and by increasing its presence with bigger corporates.

Fidessa recently won Citigroup as a client as the US giant looks to builds its derivatives trading platform.