Irish technology firm First Derivatives has secured a deal to supply software to the Australian financial regulator.
Its software will help the Australian Securities and Investments Commission monitor the country's capital markets and share and bond trading.
It will check for any suspicious or illegal activity such as insider trading.
The deal is a four year multi-million euro contract for the Newry-based firm, though it did not say exactly how valuable the piece of business is.
First Derivatives said the deal is the ''most significant in its 16 year history''. It described the decision by a financial regulator to invest in its product as a breakthrough for it and a big vote of confidence in its products.
''This deal builds on very encouraging performance on the product side of our business, showing 40% growth in our recent interim results,'' commented the company's chief executive Brian Conlon.
He said that the company now employs 720 people and, having been endorsed by the Australian Securities and Investments Commission, it is clear that it can expect this growth to continue.
The company's ''Delta Stream'' software is used around the world at banks, hedge funds and securities companies, including the Singapore Exchange.
