LONDON - 17th October 2011
Deloitte, the business advisory firm, today announced the results of its 2011 UK Technology Fast 50 awards, an independent ranking of the UK’s fastest growing technology companies. This year’s winner is Fixnetix, with a growth of 24557% per cent over the last five years. The average growth rate of the winning Fast 50 companies has increased to 2820%, a fifth (21%) higher than 2010 (2321%).
This year’s winner, Fixnetix, is the third company in four years serving financial services companies. Distribution Technology won in 2009 and Thunderhead in 2008 - both software companies serving this market.
Fixnetix is a trading technology company and provides solutions for high-speed access for trading information and executing trades on a number of electronically traded assets including stock markets. The company was founded in London in 2006, and its growth has been driven by a massive expansion of computerised trading and the increasing role of technology in global markets.
In June 2011, Fixnetix developed a microchip that can execute trades in nanoseconds, replacing the need for separate software. The chip is able to process trades at 740 nanoseconds. Speed is vital in the fast moving trading industry as hundreds of thousands of deals are executed every second.
Hugh Hughes, the company’s chairman and CEO, said: “We are the only company offering this kind of technology across all asset classes.”
With Fixnetix expanding into the US and the Far East, Hughes is feeling confident about the future: “To succeed in the technology sector, you need to understand your product, listen to your customers and know what you’re up against. If you do all of that, and get your prices right, then you will continue to grow even in the toughest economic climate.”
David Halstead, the partner leading the Deloitte Technology Fast 50, said: “The 2011 Deloitte Fast 50 shows that tremendous growth rates are still possible, with internet and software sectors showing particular strength and making up over half (56%) of the companies in the Fast 50 ranking.The Technology Fast 50 awards are an opportunity for businesses to gain recognition for their successes and achievements over the last five years. This year’s ranking highlights the importance of finding a niche product or service to beat the recession.”