Head office: Albert House, 256-260 Old Street, London, EC1V 9DD Tel: +44 20 3725 3333 Email: info@opengamma.com Other offices: New York Website: www.opengamma.com Twitter: @opengamma Contact: Soila Patajoki, Marketing Manager Founded: 2009 Ownership: Private equity and management owned Number of staff: 35 Financials: Not released


Customers


In terms of customers, it is still relatively early days but there is certainly here, at least, a current lack of transparency, beyond CME and LCH.Clearnet. OpenGamma claims to be providing some relatively large solutions, including one for 100+ traders within a large proprietary trading firm. Here, the platform runs as a central solution, with a web GUI. The platform has also been used to rationalise solutions within a number of hedge funds. One is described as a $15 billion+ hedge fund which had ended up with ‘duplication in IT and quant engineering, complicating risk aggregation and adding to IT maintenance costs’. The aim was to provide the same analytics for portfolio managers, risk and middle office staff. Having used ‘black box’ legacy systems, it was apparently keen on open source, perceiving it to mean less delay for new functionality and fewer problems with integration and customisation.


User list OpenGamma Platform


Example customers


CME (US) LCH.Clearnet (UK)


100 Risk Management Systems & Suppliers Report | www.ibsintelligence.com


While this all sounds positive, there are some negative comments out there about OpenGamma (one of the problems for a supplier touting greater transparency, perhaps). One anonymous user, in mid-2013, was critical of the structure of the code base, claiming ‘my firm is making a big push to use the OpenGamma platform, and it has not been going well’. OpenGamma’s own forum is open for anyone to view, so it is interesting to see the comments, errors and other observations. Certainly, it means anyone evaluating the solution probably has far greater insight than if they were merely on the receiving end of a traditional sales pitch from a traditional supplier.


Commerzbank became the first sell-side institution to sign up for OpenGamma’s new margining service. This came at a time when Category 2 market participants were just two months away from joining Category 1 institutions in the obligation to clear OTC derivatives under EMIR.


company details


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