JPX Takes Minority Stake in OpenGamma
LONDON, February 1, 2017
The Japan Exchange Group has taken a minority stake in OpenGamma, a leading provider of derivatives risk analytics.
The JPX investment follows an earlier $13.3 million round of institutional investment in October 2016, which included Accel Partners, NEX (formerly known as ICAP), Euclid Opportunities and ex-SunGard CEO Cristóbal Conde. This fundraising positions OpenGamma for rapid expansion as it seeks to provide an objective view of the all-in costs for derivatives users, helping the sell-side to minimise their balance sheet usage and the buy-side with the information they need to make smarter counterparty decisions.
“JPX has an established tradition of leading the charge to provide efficient and innovative management of risk for Japan’s financial and capital markets,” said Peter Rippon, CEO of OpenGamma. “This track record makes them ideal partners and catalysts for our mission of enabling derivatives users to make smarter trading and clearing decisions.”
“We’ve followed OpenGamma’s transformation from an innovator in the development of open source software into an important risk analytics provider for institutional finance,” said Takeshi Hirano, Executive Officer of JPX.
OpenGamma is a leading provider of risk analytics for the derivatives markets. Its solutions help derivatives users explore the pricing, execution and clearing models that underpin the commercial relationships between market participants. Its nimble, flexible and open approach has enabled it to build a wide range of bank, asset management, hedge fund and clearing house clients. Based in London, OpenGamma is a pioneer in open source and cloudbased financial software, and is involved in initiatives investigating the potential of blockchain technologies for derivatives.