Jobs boost as firm sets up global centre in Belfast

US-based financial services group Wombat is establishing its global centre of software engineering excellence in Northern Ireland…

US-based financial services group Wombat is establishing its global centre of software engineering excellence in Northern Ireland, it was announced today.

Wombat's software transfers stock exchange data to remote trading floors in banks at high speed, improving the efficiency and accuracy of automated trading systems.

The Belfast investment, which is expected to create 45 jobs, has been supported by Invest Northern Ireland, the province's economic promotion agency.

It will focus on product development and customer support. However there is a longer term view to the Belfast site emerging as a base for European sales, said Invest NI.

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Invest NI has offered financial support of £377,500, dependent on all 45 jobs being created.

Welcoming the investment Ian Murphy of Invest NI said: “Wombat's commitment reinforces Northern Ireland's global reputation as a key business base for international entrepreneurs wanting to exploit market opportunities in Europe.”

He said the project would further enhance Northern Ireland's reputation as a world class centre of financial services software and, he hoped, as a catalyst for further projects in the sector.

Wombat chief operations officer, Danny More, said the company intended to develop a “world class centre of excellence in Belfast to support our growing customer base both in Europe and the financial centres in the North East US”.

Mr Moore said the company expected to be up and running in Belfast during the second half of this year.