Technology provider FIA Tech has opened a new London-based subsidiary as the company looks to scale and expand.
The London subsidiary, which is based in Paddington, becomes FIA Tech’s fourth office: following Washington DC, New York and Nashville.
The new subsidiary is also FIA Tech’s first office outside of the US.
“The UK and Europe are core markets for FIA Tech’s customer base and London is a global hub for FinTech innovation,” said Nick Solinger, chief executive of FIA Tech.
“FIA Tech will be expanding in R&D and client services to support our rapid growth and London offers unparalleled access to a cutting edge FinTech talent base.”
Last year, FIA Tech revealed that it had received an investment of $44 million from ten leading clearing firms to help support the strategic growth of the company.
Since then, the newly capitalised firm has been investing in the development of existing products, as well as the launch of new, innovative solutions to improve market infrastructure across the listed and cleared derivatives industry.
FIA Tech said in a statement that it will continue to work in partnership with the broader industry, including exchanges, clearinghouses, clearing firms and other intermediaries, independent software vendors, buy-side firms and end users to bring efficiency to the exchange traded and cleared derivatives industry.
FIA Tech has recently announced several new initiatives, including the introduction of a comprehensive set of reference data products developed together with exchanges, CCPs, regulators and data providers to remove friction in trading futures and to help with regulatory compliance.
In November, FIA Tech introduced an analytics and data service to simplify trading of index futures. The new solution, which was created in partnership with exchanges and index providers, aims to help classify non-US indices for US firms.