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

FacebookTwitterLinkedInGoogle+Share

One Response to Top 25 European Cloud Computing Rising Stars: OpenGamma

Join Our Newsletter

Receive updates each week on news, tips, events, comics and much more...

Advertising Programs

Click To Find Out!

Sponsored Posts

Sponsored Posts

CloudTweaks has enjoyed a great relationship with many businesses, influencers and readers over the years, and it is one that we are interested in continuing. When we meet up with prospective clients, our intent is to establish a more solid relationship in which our clients invest in a campaign that consists of a number of

Popular

Top Viral Impact

The Future Of Work: What Cloud Technology Has Allowed Us To Do Better

The Future Of Work: What Cloud Technology Has Allowed Us To Do Better

The Future of Work: What Cloud Technology Has Allowed Us to Do Better The cloud has made our working lives easier, with everything from virtually unlimited email storage to access-from-anywhere enterprise resource planning (ERP) systems. It’s no wonder the 2013 cloud computing research IDG survey revealed at least 84 percent of the companies surveyed run at

Cloud Computing Adoption Continues

Cloud Computing Adoption Continues

Cloud Computing Adoption Continues Nowadays, many companies are changing their overall information technology strategies to embrace cloud computing in order to open up business opportunities.  There are numerous definitions of cloud computing. Simply speaking, the term “cloud computing” comes from network diagrams in which cloud shapes are  used to describe certain types of networks. All

BYOD Will Continue To Define Workplaces In 2014

BYOD Will Continue To Define Workplaces In 2014

BYOD Will Continue To Define Workplaces In 2014 The bring-your-own-device trend has been the subject of scrutiny ever since its initial formation. Given how quickly personal smartphones and tablets became a fixture in everyday life, it makes perfect sense that these mobile machines would slip into workplaces. While BYOD has caused headaches for many businesses,

Can I Contribute To CloudTweaks?

Yes, much of our focus in 2015 will be on working with other influencers in a collaborative manner. If you're a technology influencer looking to collaborate long term with CloudTweaks – a globally recognized leader in cloud computing information – drop us an email with “tech influencer” in the subject line.

Please review the guidelines before applying.

Whitepapers

Top Research Assets

HP OpenStack® Technology Breaking the Enterprise Barrier

HP OpenStack® Technology Breaking the Enterprise Barrier

Explore how cloud computing is a solution to the problems facing data centers today and highlights the cutting-edge technology (including OpenStack cloud computing) that HP is bringing to the current stage. If you are a CTO, data center administrator, systems architect, or an IT professional looking for an enterprise-grade, hybrid delivery cloud computing solution that’s open,

Public Cloud Flexibility, Private Cloud Security

Public Cloud Flexibility, Private Cloud Security

Public Cloud Flexibility, Private Cloud Security Cloud applications are a priority for every business – the technology is flexible, easy-to-use, and offers compelling economic benefits to the enterprise. The challenge is that cloud applications increase the potential for corporate data to leak, raising compliance and security concerns for IT. A primary security concern facing organizations moving