Responds to growing market and demand for financial IT expertise

Toronto 27 September 2011 - Formicary Ltd, a software and systems integration provider, has opened an office in Toronto to meet the growing demand for its financial IT services.  The new branch (www.formicary.ca) will offer trading systems integration and clearing solutions, as well as Formicary’s collaboration group chat services.

Formicary has worked in the region for over two years, building relationships in the financial community and developing its reputation for delivering sophisticated solutions quickly and cost-effectively. The company offers in-depth expertise that is not always available in-house, helping Canadian financial institutions to meet the technology requirements of implementation, migration and integration of the key banking trading platforms, Calypso, Murex and Misys Summit FT.

Formicary also provides solutions that will enable Canadian financial institutions to increase the value of persistent Group Chat and instant messaging.  A Microsoft Gold Partner and a RIM Alliance Member, Formicary Collaboration Group, is the leader in group chat solutions, offering off-the-shelf software, Group Chat implementation and migration, and bespoke development including Blackberry Playbook applications.

Alex Millington, a director at Formicary who has worked in North America for more than ten years, will head up the new operation.  He explains, "The demand for financial IT services in Canada has seen strong growth in recent years and given the on-going changes in the regulation and structure of financial markets, effectively integrated systems are more important than ever. We are regularly approached by Canadian institutions for our technical expertise in trading systems integration and unified communications platforms. Building on our established businesses in Europe and the US, we believe the time is right to formally expand our business into the region".