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Follow on Google News | OpenGamma and Risk Focus Partner to Deliver Real-Time Risk Management SolutionsOpenGamma today announced that it is has partnered with Risk Focus, a specialist consultancy delivering enterprise risk management, derivatives trading and connectivity solutions.
By: OpenGamma Evolving regulatory standards including Basel, EMIR and Dodd-Frank, along with increasing market volatility, are driving the need for rapidly deployable and cost-effective solutions to meet new global risk management requirements. Financial services firms must have complete transparency into risk systems and the flexibility to quickly run stress testing, modeling and complex market data input analysis, as well as the ability to easily restructure financial products. Risk technology must scale to market volumes, and integrate into complex legacy environments without costly forklift upgrades. OpenGamma delivers the real-time critical trading and risk analytics needed by global risk professionals, quants and portfolio managers. Unlike unwieldy and expensive legacy technology, OpenGamma's flagship OpenGamma Platform (http://www.opengamma.com/ As a testament to the value of the platform and the partnership, OpenGamma and Risk Focus recently collaborated on a project for a global firm looking to build a new risk management platform. Within one month of resourcing the project, the client had end-to-end performance data on mark-to-market, P&L and risk sensitivities running in real-time for a large IRS test portfolio. The client estimates that using OpenGamma will save 9 months of project time and about 4 man-years of development effort, in addition to benefiting from richer functionality, stress testing on demand and increased agility for future developments. "OpenGamma's open architecture greatly accelerates the development of real-time custom risk management solutions. It also facilitates flexible integration to legacy platforms that move at a slower pace," said Brian Lynch, CEO of Risk Focus. "As a specialist solutions provider we act as independent advisors to our clients; our goal is to introduce them to innovators in the market, and ultimately to help them find the best tools and components to do the job. Our partnership with OpenGamma will enable us to accelerate our customer deployments to help them rapidly respond to new market challenges." "Financial services firms today must have the flexibility to quickly alter their risk systems and applications to respond to changing market conditions, ensure compliance and to stay ahead of competitors," About Risk Focus Risk Focus was founded in 2004. The founders saw a gap between product vendors pushing complex, monolithic solutions and the complexity and cost of building enterprise solutions from the ground up. The Risk Focus approach combines proven domain expertize with open architectures and components that offer maximum flexibility and transparency allowing us to optimize 'Time to Value' without sacrificing on 'Total Cost of Ownership'. The company is headquartered in New York with an office in London. 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. End
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