The Lighter Side Of The Cloud – Growing Pains
The Lighter Side Of The Cloud – Information Highway
The Lighter Side Of The Cloud – Big Data Project

Top 25 European Cloud Computing Rising Stars: OpenGamma

OpenGamma Combines Open Source and Cloud Computing in Innovative Platform

OpenGamma is a good example how Cloud Computing changed the way entrepreneurs and software vendors are looking for new software and technology solutions. Kirk Wylie, Elaine McLeod and Jim Moores founded OpenGamma in 2009 and rumors were a new London-based technology start-up is entering financial services market. Traditionally, London hosts many financial companies and it was not quite unexpected that a newcompany introduced its services in a lucrative market such as financial industry. The company, however, offered a different approach in a historically conservative industry field whose members acknowledged that a new and innovative business model is more than welcome.

The company’s flagship product is its OpenGamma Platform, offering customers possibility to take  advantage of Cloud Computing and Software as a Service (SaaS). The system can be deployed in-house or to be hosted as a SaaS. Another option is to use the product in a model allowing some components to run in a customer’s data center while others are provided as a service.

Actually, OpenGamma is developing a financial analytics and risk management platform aimed at users who actively trade in global financial markets. Another advantage offered by the company is that the platform is Open Source, so it is largely customizable and designed to allow external developers modify its source code.

The platform is accessible via web browser, while allowing customers to get batch risk reports in Excel and PDF formats. Additionally, OpenGamma is designed to use customer provided reference data or industry standard one. Encrypted data storage and transfer is a functionality that should be, and is, incorporated in the platform.

OpenGamma features also full dependency graph construction and introspection, end-user modifiable calculations, and advanced user interfaces using web technologies, the company web site reads. An Open Source solution might look tricky and many companies avoid using such software platforms for various reasons although many governments around the globe adopted such software at highest government level. OpenGamma makes a step further, offering open architecture that allows customers to integrate their existing systems with the one delivered by the company. OpenGamma Platform boasts its completely open software nature which is not a widespread solution but certainly is an interesting one for those who are deeply involved in the ever growing sector of financial services.

Unsurprisingly, the company managed to secure two rounds of funding in the past two years with Accel Partners leading a Series A funding in 2009. FirstMark Capital provided a Series B funding a couple of years later, while Accel Partners participated in the round as a return investor.

The global economic crisis was in part a result of the financial system’s inability to manage real-time risk across interconnected asset classes and geographic regions. For our global economy to recover the trust and confidence it has lost, it must change the way risk is measured and managed, and OpenGamma provides the only platform that can achieve this critical goal,” Lawrence D. Lenihan, Founder and Managing Director at FirstMark, commented in a press release.

OpenGamma wants to utilize the funding for establishing strategic alliances within global markets and expanding its R&D department. It will have to compete with many well established software vendors for its place under the sun although some of them already lost momentum for various reasons.

The complexity of the financial markets, stronger corporate governance and more regulatory requirements has IT departments seeking a technically strong and architecturally modern analytical platform that can easily integrate siloed, third-party applications with other major financial components – with the flexibility to fix source code in real-time,” Kirk Wylie, founder and CEO of OpenGamma, said in a company press release after the Series B funding.

Open source and Cloud Computing are very similar to some extent, and OpenGamma entered a very specific market niche not easy to develop but full of prospect customers. The company sets foot in a market in which one million questions are asked daily, hence one should expect they are well prepared to compete with mastodons they will face while trying to grab a respectable market share.

By Kiril Kirilov

Sorry, comments are closed for this post.

Recent

The Lighter Side Of The Cloud – Due Diligence

The Lighter Side Of The Cloud – Due Diligence

By David Fletcher Please support our comics by sharing, licensing or visiting our cloud sponsors. Your support goes a long way in allowing us to continue to produce our lighthearted comics each week. About Latest Posts kiril Latest posts by kiril (see all) Cisco Survey: The Mobile Cloud Office Generation – September 26, 2011 Windows…

Improving Safety On The Digital Highway

Improving Safety On The Digital Highway

Digital Highway Safety When it comes to transportation, safety is highly consequential. From educational programs to legal penalties, safety is principle to the way that travel is spoken about and acted upon. But what about digital travel? Although user files are hardly as important as users themselves, they often contain sensitive information. As cloud computing’s momentum…

Popular

Internet Of Things – Industrial Robots And Virtual Monitoring

Internet Of Things – Industrial Robots And Virtual Monitoring

Internet Of Things – Industrial Robots And Virtual Monitoring One of the hottest topics in Information and Communication Technology (ICT) is the Internet of Things (IOT). According to the report of International Telecommunication Union (2012), “the Internet of things can be perceived as a vision with technological and societal implications. It is considered as a…

The History Of Back-Ups

The History Of Back-Ups

The History of Back-Ups There’s no doubt about it – we are spoilt. With external hard-drives, CDs, USB memory sticks, SD cards, online storage and multiple devices with vast memories we can save, access and back up our data more easily and more efficiently than ever before. (Image Source: Maxim Yurin, SoftLogica)  It’s not always been…

Public vs. Private vs. Hybrid: Which Cloud Is Right for Your Business?

Public vs. Private vs. Hybrid: Which Cloud Is Right for Your Business?

Public vs. Private vs. Hybrid The debate surrounding the deliverability of cloud computing is coming to a close. Businesses have begun to rapidly adopt the use of cloud services, courtesy the ROI this disruptive technology brings to the table. They have finally realized they cannot afford to ignore the cloud. A Forrester study found that…

Cloud Computing and Social Networks

Cloud Computing and Social Networks

Pushing Innovation With Social Networks There was a time when storage space was a precious commodity. A few videos and photographs and the system would be gasping for breath in old PCs’ limited storage space. 10 Years ago, today’s top social networking sites would have broken down under the burden of the heavily visual traffic…

Cloud Infographic: Cloud Public, Private & Hybrid Differences

Cloud Infographic: Cloud Public, Private & Hybrid Differences

Cloud Public, Private & Hybrid Differences Many people have heard of cloud computing. There is however a tremendous number of people who still cannot differentiate between Public, Private & Hybrid cloud offerings.  Here is an excellent infographic provided by the group at iWeb which goes into greater detail on this subject. Infographic source: iWeb About…

Sponsored Posts

Skin Based Technology – The Intelligent Tattoo

Skin Based Technology – The Intelligent Tattoo

The Intelligent Tattoo I’ve got you under my skin: the rise of the intelligent tattoo As the Internet of Everything expands its reach to embrace many new areas of life, the race continues to develop more robust and accessible tools. Wearables are being whittled down from clunky watches to smart clothes and wrist bands, but…

Cloud Logo Sponsors

hp Logo CityCloud-PoweredByOpenstack-Bluesquare_logo_100x100-01
cisco_logo_100x100 vmware citrix100
Site 24x7


Contributor Spotlight

Established in 2009, CloudTweaks is recognized as one of the leading influencers in cloud computing, big data and internet of things (IoT) information. Our goal is to continue to build our growing information portal, by providing the best in-depth articles, interviews, event listings, whitepapers, infographics and much more.

Branded Content Programs

Advertising