OpenGamma Wins Belfast Innotribe Startup Challenge Showcase

BELFAST, 18th June 2012 – OpenGamma was honoured as the recipient of the "Top Innovator" award from SWIFT's Innotribe Startup Challenge Regional Showcase held on 14 June, 2012 in Belfast.

OpenGamma won the title of "Top Innovator" with the OpenGamma Platform, the first open source analytics and risk management platform for the financial services industry.

As "Top Innovator" for the European showcase, OpenGamma will now advance to the Innotribe Startup Challenge finals to be held at Sibos – SWIFT's annual conference – in Osaka in October 2012 where they will compete for global recognition.

Kirk Wylie, Co-Founder and CEO, OpenGamma said, "We're extremely excited to be named winner of the Innovator category at the Innotribe Startup Challenge Belfast, and humbled by the quality of the other semi-finalists. This was a fabulous experience for OpenGamma, and our win in Belfast, coupled with our opportunity to now move on to the final stage of competition at Sibos in Osaka, gives us fantastic exposure to the entire SWIFT community. As every SWIFT member firm needs to focus on their market risk technology in an environment of changing regulations and increased scrutiny on cost and transparency, we are confident that the OpenGamma Platform can deliver tremendous value to the majority of SWIFT participants."

The Innotribe Startup Challenge saw 15 of the region's most promising FinTech and Financial Services startups present their businesses to an audience of dozens of the financial industry's most influential innovation executives, early-stage investors and press.

Kosta Peric, Head of Innovation at SWIFT and Co-founder of Innotribe said, "The Belfast Innotribe Startup Challenge was an unparalleled opportunity to get a glimpse into the future of the relationship between technology and financial services. We look forward to welcoming OpenGamma at the Innotribe Startup Challenge finals at Sibos later this year."

The Belfast Startup Challenge was the final of three regional challenges held in 2012 and was sponsored by Sberbank, Invest Northern Ireland, Cisco and Guidewire Group.

More information about the Startup Challenge, including the Belfast semi-finalists, is available at http://www.innotribestartup.com/.

About Innotribe

Launched in 2009, Innotribe is SWIFT's initiative to enable collaborative innovation in financial services. Innotribe presents an energising mix of education, new perspectives, collaboration, facilitation and incubation to professionals and entrepreneurs who are willing to drive change within their industry. It fosters creative thinking in financial services, through debating the options (at Innotribe events) and supporting the creation of innovative new solutions (through the Incubator, Startup Challenge and Proof of Concepts (POCs). It is through this approach, the Innotribe team at SWIFT is able to generate a platform that enables innovation across SWIFT and the financial community. For more information, please visit http://www.innotribe.com/.

About SWIFT

SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,000 financial institutions and corporations in 210 countries. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest. For more information, please refer to www.swift.com.

About OpenGamma

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.