StatPro Group PLC (LON:SOG) shares ticked up on Friday as it signed a three-year deal with an EU investment manager, carrying a minimum price tag of €1.2mln (£1.04mln).
The firm, which provides cloud-based portfolio and analytics services to asset managers, said the customer already used its flagship Revolution Delta service but the deal added a new module to cover new EU money market regulations and provide risk reporting to regulators.
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"This contract win and extension for Revolution Delta, our flagship fixed income service, is a clear demonstration of our capabilities to widen our services to existing customers”, said Justin Wheatley, StatPro’s chief executive.
He added that the company’s new EU money market risk service was “an essential part” of the firm’s risk compliance offering and was becoming “increasingly attractive as active asset managers are under growing cost pressure from both competition and regulation”.
In mid-afternoon trading, StatPro shares were up 0.2% at 122.3p.
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