First Derivatives Requests a Change of Name to FD Technologies PLC

First Derivatives PLC (LON: FDP), a technology provider for investment banks and other financial companies, announced on Tuesday together with the release of its annual report for the financial year ending February 28, 2021, that it has requested a change of name to FD Technologies PLC.

According to the document published on the London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term website, if the name change is approved, the tickers will remain the same. “As set out in the Group’s full year results on 18 May 2021, the notice of annual general meeting contains a resolution to effect a change of name to FD Technologies plc. Should the resolution be approved, on completion of the change of name the Group’s tickers (AIM: FDP.L, Euronext Growth: FDP.I) will remain the same,” the Notice of AGM and change of name to FD Technologies PLC document said.

There are no further details on the reasons behind the decision to ask for the company’s name change as of press time. Still, the company stated that the annual report was sent to all shareholders, and it’s available through First Derivatives’ website. Additionally, the company will host an Annual General Meeting on July 8, according to the document.

First Derivatives Financial Year 2021

In May, Finance Magnates reported about the revenues of the financial year for 2021 in First Derivatives. The company witnessed a pre-tax profit of £11.1 million for the financial year 2021 ended on February 28, which is almost 39% down from the previous year’s £18.3 million. The Newry-headquartered company highlighted that its results were in line with market expectations, and it is satisfied with the ‘robust performance’ despite the implications of the Coronavirus Coronavirus The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, Read this Term pandemic.

In addition, FD improved its net debt significantly, which now stands at only £9.9 million, shrinking from £49.4 million that was reported at the end of the previous financial year.

Founded in 1996, First Derivatives operates from 15 offices in Europe, North America and the Asia Pacific.