UK financial securities trading technology firm Rapid Addition has announced the launch of a new software research and development facility in Manchester, along with the appointment of a new marketing and business development manager in London.

Stefan Basiuk joins Rapid Addition from Capco, a technology consultancy to the financial services industry, where he held the position of head of UK marketing.  Prior to this Mr Basiuk was global head of marketing and business development for City Practitioners. 

Rapid Addition’s Manchester facility opens with an initial staff of six software developers. 

Toby Corballis, chief executive of Rapid Addition, said: “Appointing Stefan and opening our research and development centre in Manchester…will allow us to increase our product range, and stay ahead of competitors in the race to innovate.”

Rapid Addition specialises in financial messaging and workflow products that use FIX messaging, a protocol for the electronic communication of trade-related messages.

The company’s client base includes banks, stock exchanges, fund managers, hedge funds and broker-dealers.