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StatPro lifted by Delta contract extension by large European asset manager

The April acquisition of Delta from UBS is looking shrewder by the month
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The customer has signed up for added functionality, primarily on the fixed income side

Shares in portfolio analytics provider StatPro Group PLC (LON:SOG) opened higher after it announced a contract extension with a large European asset manager.

The stock opened 1% higher at 156.94p in a falling market on the news that an unnamed asset management company had signed a two-year contract extension for StatPro's Delta service.

READ: StatPro Group seals £11mln earnings enhancing UBS Delta acquisition

The client is not only extending the duration of the contract period but also increasing its commitment to use the platform for ongoing risk analytics in the front and middle office, mainly across fixed income assets.

"This contract extension, with an important client, underlines the quality of the recently acquired Delta service which offers unprecedented price accuracy and flexibility for our fixed income clients,” said Justin Wheatley, chief executive officer of StatPro.

"We are making rapid progress with our plans to reach functional parity between Delta and our flagship StatPro Revolution platform."

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