ICAP lead investor in OpenGamma’s $15 million C-Round

OpenGamma, creator of an open platform for Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term and trade Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term closed a $15 million c-round of funding. The investment was led inter-dealer broker ICAP. ICAP was also joined by Accel Partners and FirstMark Capital who are making follow up investments in ICAP. With the investment, Mark Beeston, CEO of Post Trade Risk and Information at ICAP will be joining OpenGamma’s Board of Directors.

According to their official press release, OpenGamma plans on using the funding to “drive continued product innovation, expand geographically to support its growing global client base, continue to support its active and growing open source community, and meet the significant market demand for advanced risk management and analytics systems.” OpenGamma noted that they have seen increased demand for their product due to rising levels of data volumes that financial firms are experiencing. The OpenGamma platform allows users to consolidate their analytics and risk management tools into an open source platform.

The investment by ICAP is through its Euclid Opportunities funding program. Euclid is majority owned by ICAP and invests in early stage technology companies that are servicing the financial industry. For ICAP, the deal adds another product to strengthen their existing line of post trade analytic products. According to ICAP’s Beeston, "OpenGamma's technology is an obvious fit for ICAP and will complement our suite of services to help our customers manage their risk exposure." In the Press Release, ICAP and Euclid also mentioned that they were “looking for the Traianas and TriOptimas of the future” and OpenGamma fit this description.

The ICAP investment occurs after ICAP’s eFX unit EBS recently released an updated list of Dealing Rules. At that time, EBS announced that they were introducing new systems of monitoring systems for their trading platforms and that the updated dealing rules were their first step. The investment and collaboration with OpenGamma could provide another level of trading surveillance for the EBS unit and its participants.

Forex Magantes will be holding an “elevator pitch” panel for Start-Ups at our coming November Summit which will expose their products to an audience of major brokers and investors.