Trading Floor Expansion Driven By Credit Crunch

Data trading company The Trading Floor, of Sowerby Bridge , is expanding – and it is all down to the credit crunch.

“As the markets have become more difficult, our strength is the fact we supply transactional data that is accurate.”

“And as companies squeeze marketing budgets they are looking to us for a product that delivers results,” said managing director Chris McDonald, who with financial director Harry Cummine, established the business two years ago.

The company, which collects data to sell principally to the financial and insurance industries, has offices at the Warehouse and Calder House and employs more than 30 people locally. In December it opened a southern office at St Albans, in response to an increasingly high level of inquiries from within the City.

“A lot of our major clients are southern based, although it is not critical we are anywhere,” said Mr McDonald.

Last year The Trading Floor was the inaugural winner of the Evening Courier New Business of the Year Awards with sales of more than £6 million. This year Mr McDonald said he was confident of achieving £8 million.

“We are looking for organic growth through some strong partnerships we have already established, but also keeping an eye on potential acquisitions,” he said. “We don’t go out and look for companies to acquire, our organic growth is sufficient to give us our target”, he said.

The southern office will be run by Peter Mayne as head of agencies and he will be joined by two others in the south of England while maintaining the stronghold in the north.

“The Trading Floor is an exciting young company that is making a big impact in the data industry,” he said.

(Halifax Evening Courier - 18th Jan 2008)