Rapid Addition has announced the launch of a new software development and R&D facility in Manchester. The Manchester facility opens with an initial staff of six highly skilled software developers, with strong backgrounds in financial markets technology. At the same time, Rapid Addition has appointed Stefan Basiuk as Marketing & Business Development Manager in London.

Along with senior sales and business development roles, Mr Basiuk has worked as a local trader on the Chicago Mercantile Exchange and as a broker/dealer for Smith New Court Securities in London. He brings to Rapid Addition an in-depth experience of branding and new business development within financial markets and growing niche businesses.

Rapid Addition offers platforms that support ultra low-latency financial messaging between counterparties using FIX messaging across the entire securities trade lifecycle.

Toby Corballis, CEO, Rapid Addition, said: "Appointing Stefan and opening our R&D centre in Manchester - a vibrant, dynamic technology hub with a highly skilled workforce on tap - will allow us to increase our product range, and stay ahead of competitors in the race to innovate. We are fortunate to be able to offer the best product of its kind to all users of securities trading technology."

Katie Gallagher, Business Development Manager for MIDAS (Manchester's Investment and Development Agency), added: "We warmly welcome Rapid Addition, a leader in its field, to Manchester and the North West. Manchester is the second largest city in the UK for IT catchment and a natural home for technology firms of the calibre of Rapid Addition."