Page last updated at 10:15 GMT, Monday, 19 October 2009 11:15 UK

NYSE creates up to 400 NI jobs

New York Stock Exchange
The jobs will be in technical development and support

The New York Stock Exchange plans to create a technology service centre in Belfast, creating up to 400 jobs.

NYSE chief executive Duncan Niederauer announced his plans in Belfast alongside Northern Ireland's First Minister and Deputy First Ministers.

He said the skills base of the region's workforce, and the personal relationship struck up with Stormont leaders led to the investment.

Recruitment for the posts will take place over the next two years.

They will be mainly technical jobs aimed at computer science graduates and based in Belfast city centre.

BBC business reporter Eddie O'Gorman said the project had been in the pipeline "for quite some time".

"The NYSE bought a Belfast software company called Wombat 18 months ago and Invest NI have been talking to them ever since about expanding.

First Minister Peter Robinson and Deputy First Minister Martin McGuinness
No one should doubt the scale and significance of this expansion which is a major endorsement of our local talent, knowledge and infrastructure
Deputy First Minister Martin McGuinness

"They did announce more jobs at the time of the investment conference in May 2008 and this is just a further stage in the process," our reporter added.

Invest NI will provide up to £9.6m to support the project.


The total of 400 jobs includes 75 which have previously been announced.

Deputy First Minister Martin McGuinness said: "No one should doubt the scale and significance of this expansion which is a major endorsement of our local talent, knowledge and infrastructure.

"It will also send a clear message to other potential investors when such a high profile institution decides to invest here."

First Minister Peter Robinson praised Invest NI's role in attracting the jobs, saying the development comes "at a time when global competition for such investment has never been higher."

Stormont ministers have been lobbying hard in the US for more investment as part of the peace dividend.

Last year industry leaders from 80 US companies attended a conference in Belfast outlining potential investment opportunities.

New York Stock Exchange
Founded by 24 New York city stockbrokers and merchants in 1792
Merged with Paris-based Euronext in 2007
Runs six equity exchanges and eight derivatives exchanges

When US Secretary of State Hillary Clinton visited Northerrn Ireland last week she met business leaders during her series of engagements.

She noted that Northern Ireland had escaped the worst ravages of the global economic downturn and credited the relative success on its educated, highly skilled workforce.

In 2007 New York was the scene for one of the most striking images of the early days of DUP/ Sinn Fein power sharing when then DUP leader and First Minister, Ian Paisley and Deputy First Minister Martin McGuinness of Sinn Fein were photographed ringing the trading bell at the Nasdaq exchange.

The pair also met Mr Niederauer, during the trip and lobbied him on making an investment in Northern Ireland.

The US-based financial group Citi employs about 800 people in Belfast in a technology service centre.

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