London-based OpenGamma, a provider of risk analytics for the derivatives which investigates the potential of blockchain technologies for derivatives, has seen The Japan Exchange Group take a minority stake in its company.
CEO of OpenGamma, Peter Rippon commented: “JPX has an established tradition of leading the charge to provide efficient and innovative management of risk for Japanâ€™s financial and capital markets. This track record makes them ideal partners and catalysts for our mission of enabling derivatives users to make smarter trading and clearing decisions.”
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 CristÃ³bal 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.
Takeshi Hirano, Executive Officer of JPX, remarked: “Weâ€™ve followed OpenGammaâ€™s transformation from an innovator in the development of open source software into an important risk analytics provider for institutional finance,”
OpenGamma solutions help derivatives users explore the pricing, execution and clearing models that underpin the commercial relationships between market participants. Its approach has built a wide range of bank, asset management, hedge fund and clearing house clients.