OpenGamma and Catena Technologies Partner to Deliver Open Source Risk Management Platform to Asia Pacific Region
24th June 2013 - OpenGamma, creators of the first open-source analytics and risk management platform for the financial services industry, and Catena Technologies Pte Ltd, an Asia-based financial technology consulting firm, today announced their partnership in the Asia Pacific region. OpenGamma provides real-time market risk management technology for financial institutions to improve analytics calculation and delivery to front office and risk users. Catena Technologies will provide design, integration, and support services helping customers to make the most effective use of the OpenGamma Platform.
"Catena is a strategic partner for OpenGamma as we expand our business into the Asia Pacific region," said Mas Nakachi, CEO of OpenGamma. "Catena has a deep understanding of challenges that financial services firms face across Asia with trading and risk systems. They also have experience working with banks and other financial institutions in Asia to implement and optimize open source technologies. We look forward to working with Catena to help customers address critical business challenges related to trading and risk technology."
Over the past 15 years, open source software has significantly changed the software industry, providing solid and affordable alternatives to mainstream vendor offerings. In many cases, large developer communities for open source projects help reduce the cost of ownership compared to a system built on a proprietary code base. Moreover, having direct access to the product source code provides financial institutions with an alternative to relying on the vendor's schedule for fixing software defects and adapting applications to changing market conditions.
In parallel, new regulatory mandates, ranging from Basel III to MiFID II to Dodd Frank, have emerged following the global financial crisis, forcing financial services firms to quickly adapt their risk management techniques. These evolving standards are driving a variety of risk system requirements, including rapid implementation of new risk scenarios for stress testing, accurate modeling and analysis of increasingly broad and complex market data input, and seamless refactoring of financial products to new structures.
"With ever-increasing regulatory demands, Asian financial services firms face a growing need to have better control over their risk analytics," said Aaron Hallmark, COO of Catena Technologies. "With its open source software model, OpenGamma provides an innovative way for customers to gain better control and improve the transparency of their risk management implementations. Additionally, OpenGamma has integrated industry best practices into its technology design to provide both flexibility and performance. We are excited to be working with OpenGamma and look forward to helping customers achieve success on the platform."
About Catena Technologies Pte Ltd
Catena Technologies Pte Ltd specializes in architecture, design, and delivery of advanced technology solutions for the financial services industry. Based in Singapore, the company has worked with customers across the Asia Pacific region including Japan, Hong Kong, Australia, Singapore, and China. Catena Technologies combines in-depth knowledge of the financial markets with expertise in applying cutting-edge technologies.
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.
For More Information Contact:
Catena Technologies Pte Ltd
3 Phillip Street
#10-01 Royal Group Building
Republic of Singapore
Phone: +65 6100 0881
Fax: +65 6399 0881
350 Seventh Avenue, Suite 1101
New York, NY 10001
Phone: +1 212 255 0080 ext. 20