Open Gamma seals new investments of Icap and Accel
The $ 13.3 million investment will be used to accelerate the company’s growth, OpenGamme said in a statement on October 6
The round was led by existing donors Icap and Accel and included investments of former Sungard boss Cristobal Conde, the Open gamma Board had
connected as non-executive director in 2014
Open Gamma also announced it had appointed Peter Rippon as Chief Executive Officer. It replaces Mas Nakachi, who has taken on a vice-chairman role. Founder Kirk Wylie recently left “to pursue other business interests,” according to the statement.
was in 2009 by Wylie and other industry experts, Open Gamma is an open source analysis and risk management platform for derivatives trading. It is an instrument that financial institutions make the margin calculation for the major clearing houses allows.
The company aims on a raft of post-crisis to use regulation, which have more over-the-counter derivatives urged on electronic platforms and clearing houses to increase the demand for tools that can help manage the process.
Rippon, the Open Gamma in 2012 had joined as Chief Operations Officer, said the company to expand the product line, the planning was sold it to his library of open source analytics. He also said the company would expand its team, with the “bulk of the adjustment” in development.
Rippon said: “We want to grow faster and become the market standard.”
Open Gamma raised above $ 23.25 in funding from Accel, First Mark Capital and I cap. The investment of middlemen comes from Euclid chances his department that FinTech company assures.
Our Source: http://www.efinancialnews.com/story/2016-10-05/opengamma-scores-new-investment-from-icap-and-accel?mod=rss-fintech
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