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.

Comic
Martech In A Content Crazed World

Martech In A Content Crazed World

Content Crazed World Everywhere you look there are pop-up ads and offers, at times it can feel like overload. What used to be a few online ads on websites has now grown into a wild world of offers that consume your every device. These advancements in marketing technology can not only be overwhelming to the…

Hubgets – Advanced Collaboration, Enriched Communication

Hubgets – Advanced Collaboration, Enriched Communication

Advanced Collaboration Tool Sponsored series provided in collaboration with Hubgets Collaboration tools have advanced leaps and bounds with the advent of cloud technology, and the services available are only getting better. Promising features such as sophisticated group communication, productive management of tasks and meetings, and the ultimate dream, working remotely from some gorgeous island destination, innovative collaboration…

Verizon To Acquire Yahoo For $4.83 Billion

Verizon To Acquire Yahoo For $4.83 Billion

Verizon Communications Inc (VZ.N) said it had agreed to buy Yahoo Inc’s (YHOO.O) core internet business for $4.83 billion in cash, ending a lengthy sale process for the fading Web pioneer. Buying Yahoo’s operations will boost Verizon’s AOL internet business, which it bought last year for $4.4 billion, by giving it access to Yahoo’s advertising…

When Sci-Fi Predictions Come To Fruition

When Sci-Fi Predictions Come To Fruition

Evolution of Technologies To paraphrase science fiction author Arthur C. Clark, those who make predictions about the future are either “considered conservative now and mocked later, or mocked now and proved right when they are no longer around to enjoy the acclaim.” The one thing we can be sure about, Clark ventured, is that “[the…

Facebook Hopes To Extend Internet Connectivity With Solar-Powered Drones

Facebook Hopes To Extend Internet Connectivity With Solar-Powered Drones

Facebook Inc (FB.O) said on Thursday it had completed a successful test flight of a solar-powered drone that it hopes will help it extend internet connectivity to every corner of the planet. Aquila, Facebook’s lightweight, high-altitude aircraft, flew at a few thousand feet for 96 minutes in Yuma, Arizona, Chief Executive Mark Zuckerberg wrote in…

The Security Gap: What Is Your Core Strength?

The Security Gap: What Is Your Core Strength?

The Security Gap You’re out of your mind if you think blocking access to file sharing services is filling a security gap. You’re out of your mind if you think making people jump through hoops like Citrix and VPNs to get at content is secure. You’re out of your mind if you think putting your…

Choosing IaaS or a Cloud-Enabled Managed Hosting Provider?

Choosing IaaS or a Cloud-Enabled Managed Hosting Provider?

There is a Difference – So Stop Comparing We are all familiar with the old saying “That’s like comparing apples to oranges” and though we learned this lesson during our early years we somehow seem to discount this idiom when discussing the Cloud. Specifically, IT buyers often feel justified when comparing the cost of a…

Four Recurring Revenue Imperatives

Four Recurring Revenue Imperatives

Revenue Imperatives “Follow the money” is always a good piece of advice, but in today’s recurring revenue-driven market, “follow the customer” may be more powerful. Two recurring revenue imperatives highlight the importance of responding to, and cherishing customer interactions. Technology and competitive advantage influence the final two. If you’re part of the movement towards recurring…

Are Cloud Solutions Secure Enough Out-of-the-box?

Are Cloud Solutions Secure Enough Out-of-the-box?

Out-of-the-box Cloud Solutions Although people may argue that data is not safe in the Cloud because using cloud infrastructure requires trusting another party to look after mission critical data, cloud services actually are more secure than legacy systems. In fact, a recent study on the state of cloud security in the enterprise market revealed that…

Do Not Rely On Passwords To Protect Your Online Information

Do Not Rely On Passwords To Protect Your Online Information

Password Challenges  Simple passwords are no longer safe to use online. John Barco, vice president of Global Product Marketing at ForgeRock, explains why it’s time the industry embraced more advanced identity-centric solutions that improve the customer experience while also providing stronger security. Since the beginning of logins, consumers have used a simple username and password to…

7 Common Cloud Security Missteps

7 Common Cloud Security Missteps

Cloud Security Missteps Cloud computing remains shrouded in mystery for the average American. The most common sentiment is, “It’s not secure.” Few realize how many cloud applications they access every day: Facebook, Gmail, Uber, Evernote, Venmo, and the list goes on and on… People flock to cloud services for convenient solutions to everyday tasks. They…

Cost of the Cloud: Is It Really Worth It?

Cost of the Cloud: Is It Really Worth It?

Cost of the Cloud Cloud computing is more than just another storage tier. Imagine if you’re able to scale up 10x just to handle seasonal volumes or rely on a true disaster-recovery solution without upfront capital. Although the pay-as-you-go pricing model of cloud computing makes it a noticeable expense, it’s the only solution for many…

The Industries That The Cloud Will Change The Most

The Industries That The Cloud Will Change The Most

The Industries That The Cloud Will Change The Most Cloud computing is rapidly revolutionizing the way we do business. Instead of being a blurry buzzword, it has become a facet of everyday life. Most people may not quite understand how the cloud works, but electricity is quite difficult to fathom as well. Anyway, regardless of…

Cloud Computing – The Game Changer

Cloud Computing – The Game Changer

Global Cloud Index In October, Cisco released its Global Cloud Index (GCI) report for 2014-2019, projecting a near 3-fold growth of global data center traffic, with predictions that this traffic will reach 8.6 zettabytes (cloud data center traffic) and 10.4 zettabytes (total data center traffic) per year in 2019 and 80% of it will come…

Cloud Computing Then & Now

Cloud Computing Then & Now

The Evolving Cloud  From as early as the onset of modern computing, the possibility of resource distribution has been explored. Today’s cloud computing environment goes well beyond what most could even have imagined at the birth of modern computing and innovation in the field isn’t slowing. A Brief History Matillion’s interactive timeline of cloud begins…

Digital Marketing Driven by Cloud, Big Data and IoT

Digital Marketing Driven by Cloud, Big Data and IoT

Digital Marketing Successful digital marketing campaigns are being driven largely by trending technologies, specifically the Internet of Things (IoT), Big Data, and The Cloud. These may be used for a huge number of marketing applications, from optimizing the performance of sports teams to improving science and research, even helping to aid law enforcement. Amazon Web…