Tech firm creates R&D unit

A high-tech company providing financial firms with securities trading software is setting up a base in the North West.

London-based Rapid Addition is launching a new software development and research and development facility in Manchester, creating six skilled jobs.

Rapid Addition offers platforms supporting financial messaging using the FIX protocol. The company’s new office will be at Peter House, Peter Street in the city centre.

Customers include leading banks, stock exchanges, fund managers, hedge funds and broker-dealers. Its business is continuing to grow despite the financial sector crisis.

Chief executive Toby Corballis said: “Opening our R&D centre in Manchester – a vibrant, dynamic technology hub with a highly skilled workforce on tap – will allow us to increase our product range, and stay ahead of competitors in the race to innovate. We are fortunate to be able to offer the best product of its kind to all users of securities trading technology.”

Katie Gallagher, business development manager at inward investment agency MIDAS added: “We warmly welcome Rapid Addition, a leader in its field, to Manchester and the North West.

“Manchester is the second largest city in the UK for IT catchment and a natural home for technology firms of the calibre of Rapid Addition.”