This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

OpenGamma Unveils Revolutionary Open-source Analytics And Risk Management Platform

LONDON, April 10, 2012 /PRNewswire/ --  OpenGamma, creators of the first open-source analytics and risk management platform for the financial services industry, today announced availability of the OpenGamma Platform 1.0. The OpenGamma Platform offers a completely open architecture to deliver unprecedented transparency and improve the quality, accuracy and real-time availability of the critical trading and risk analytics required by today's front-office traders, quants and risk managers. Users have the freedom to quickly customize the platform, integrate with existing legacy systems and applications, and modify source code in real-time, allowing firms to tailor system performance, maximize IT resources and significantly reduce costs.

Market participants today are faced with mounting data and risk management challenges due to exploding data volumes and shifting regulatory mandates, but they are often constrained by shrinking budgets and in-house technology expertise. Buy-side firms in particular need fast access to ad-hoc and pre-trade analysis, live risk and analytics, and batch and overnight risk reporting in a platform that can easily integrate with legacy data sources, financial analytics libraries, trading systems and multiple market data feeds.

The OpenGamma Platform offers a robust and flexible open-source alternative to traditional homegrown or proprietary analytics and risk management solutions. It features a Universal Calculation Engine for extensive real-time and batch risk management computations, a built-in library of cutting-edge analytics, and extensive market data support and trade data management capabilities to enhance any modern trading and analytics application. OpenGamma's open architecture is reinforced by a strong community of developers, and clients have access to comprehensive support services, from public, community-driven forums to confidential support and tailored consulting services.

OpenGamma has been guided by the industry expertise of the OpenGamma Quantitative Advisory Board. Member Andrew Rennie, Consulting Partner at Apollinax and former global head of analytics at Merrill Lynch contributed to the development process, bringing market oversight to OpenGamma Platform 1.0. Rennie guided both the analytics library and advanced trading and risk use cases. "I was drawn to OpenGamma since the market was lacking an analytics library or risk platform that met my requirements," said Rennie. "In delivering OpenGamma Platform 1.0, we are closer to establishing the future standard for quantitative finance."

OpenGamma's 1.0 platform offers a wealth of new features and enhancements, including:

  • Open-source Bloomberg module: Newly open module gives anyone with a valid Bloomberg terminal or Server API instance the ability to directly access Bloomberg data from within the OpenGamma Platform. The module also automatically loads reference data for exchange-traded securities and includes time series loading and updating capabilities as well as real-time streaming data support.
  • Enhanced visualization capabilities: Upgraded Web User Interface (WebUI) gives users the ability to visualize market and trade data from multiple live sources and integrate security time series data into security views. The WebUI also includes several back-end enhancements designed to improve system performance and streamline the end-user experience.
  • R integration module: Support for R further empowers the platform's analytics capabilities and allows users to execute completely custom scenarios controlled from R. The module also empowers users to manipulate market data at various levels and create custom securities and portfolios.
  • Customizable database masters: Expanded database functionality covers new asset classes, including inflation products, equity variance swaps, FX futures and digital FX options, and allows users to customize metadata on portfolios, positions, trades and securities.

"Buy-side firms are constantly searching for new methods to deploy critical technology, particularly as they face pressure to optimize performance and reduce costs while increasing returns. Risk management and analytics applications are more important than ever in today's compliance-focused market, but these types of solutions can be costly and cumbersome," said Rik Turner, senior analyst, Ovum. "Open-source technologies can deliver significant cost savings and performance improvements, and are now gaining a firmer foothold in the financial markets as risk managers, traders and quants demand access to powerful yet cost-effective risk analytics tools."

"Today's financial services landscape is increasingly complex and unpredictable, and firms must contend with industry-wide calls for greater accountability and transparency. Global hedge funds and asset managers need open, customizable solutions that can easily evolve with the market," said Kirk Wylie, Founder and CEO of OpenGamma. "We created the OpenGamma Platform to be radically open and inspire a new way for financial services firms to interact with their technology as they develop the analytic applications their traders and risk managers urgently need. Version 1.0 takes this one step further to truly give users the best of both worlds: a stable, customizable vendor-supported solution to handle complex calculations, ensure compliance and cement competitive advantage – all with the source code they need at their fingertips."

The OpenGamma Platform 1.0 is currently available for download at www.opengamma.com/platform.  

About OpenGamma Inc.

OpenGamma was founded in 2009 to develop an open platform for analytics and risk management for the financial services industry. The company's flagship technology product, the OpenGamma Platform, is designed to allow financial services firms to unify their calculation of analytics across the traditional trading and risk management boundaries. The company is headquartered in London with an office in New York. For more information, visit  www.opengamma.com.

Media Contact: Carly FowlerArticulate Communications cfowler@articulatecomms.com 212.255.0080, ext. 21

SOURCE OpenGamma

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs