LONDON, 24th April 2012 – OpenGamma, creators of the first open-source analytics and risk management platform for the financial services industry, announced today it has been selected as a Finalist for Red Herring's Top 100 Europe award, a prestigious list honoring the year’s most promising private technology ventures from the European business region.
The Red Herring editorial team selected the most innovative companies from a pool of hundreds from across Europe. The nominees are evaluated on both quantitative and qualitative criteria, such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their respective industries.
This unique assessment of potential is complemented by a review of the actual track record and standing of a company, which allows Red Herring to see past the “buzz” and make the list a valuable instrument for discovering and advocating the greatest business opportunities in the industry.
OpenGamma was selected for the technology category, with a focus on their OpenGamma Platform 1.0. The open architecture drives transparency and improved quality, accuracy and real-time availability of critical trading and risk analytics for front-office traders, quants and risk managers. The customizable platform integrates seamlessly with existing legacy systems and applications, allowing users to modify source code in real-time and tailor system optimization, maximize IT resources and mitigate costs.
"This year was very rewarding," said Alex Vieux, publisher and CEO of Red Herring. "The global economic situation has abated and there are many great companies producing really innovative and amazing products. We had a very difficult time narrowing the pool and selecting the finalists. OpenGamma shows great promise therefore deserves to be among the Finalists. Now we’re faced with the difficult task of selecting the Top 100 winners of Red Herring Europe. We know that the 2012 crop will grow into some amazing companies that are sure to make an impact."
Finalists for the 2012 edition of the Red Herring 100 Europe award are selected based upon their technological innovation, management strength, market size, investor record, customer acquisition, and financial health. During the several months leading up to the announcement, hundreds of companies in the telecommunications, security, Web 2.0, software, hardware, biotech, mobile and other industries completed their submissions to qualify for the award.
“OpenGamma is honored by this recognition and to share the company of such dynamic organizations,” said Kirk Wylie, Founder and CEO of OpenGamma. “Our community of sophisticated developers and clients furthers our mission to democratize access to the most advanced tools possible for capital markets trading and risk. This acknowledgment highlights the industry need for alternatives to proprietary, black-box analytics and risk management technology that accommodates each firm’s unique requirements.”
The Finalists are invited to present their winning strategies at the Red Herring Europe Forum in Amsterdam, April 23-25, 2012. The Top 100 winners will be announced at a special awards ceremony the evening of April 25 at the event.
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