CHICAGO, IL-October 29, 2001-DerivaTech, a privately held currency derivatives software provider, today announced it ranked #194 on Inc magazine’s 2001 list of the 500 fastest-growing, privately held US companies.This news comes on the heels of DerivaTech’s #3 rank in Deloitte & Touche’s Fast 50 contest for the nation’s top technology firms.
DerivaTech’s Chief Executive Officer, Nicholas Hatzopoulos said, "We are extremely proud to be recognized by Inc for the incredible growth we have experienced during the last five years. We attribute our success to our cutting-edge advances in risk management technologies and the close partnerships with our loyal customer base that help further develop products that are useful to the marketplace."
The 2001 Inc 500 list continues a twenty year tradition of acknowledging the success of America’s fastest-growing private businesses. Started in 1982, the Inc 500 ranks the nation’s leading entrepreneurial firms according to sales growth over the previous five years.DerivaTech achieved nearly 1,500% growth in the past five years.
In the past, a ranking on the Inc 500 has often been an early indicator of future accomplishments on a global scale. Companies that have made the Inc 500 include Microsoft, Intuit and Oracle.
The DerivaTech Solution is a complete trading platform for pricing, transaction life cycle management, portfolio risk management and e-commerce in currency derivatives. Its flexible component based architecture can be effectively deployed to suit the needs of different types of financial businesses, including trading banks, brokers, exchanges and corporate treasuries.
With over 100 installed sites around the world and 35 top tier financial institutions that include Bank of Tokyo Mitsubishi, Credit Agricole Indosuez, Credit Suisse First Boston, Lehman Brothers, Merrill Lynch, and Westpac, DerivaTech has wide market acceptance and a proven track record for successful implementation, integration and support.
To keep DerivaTech growing rapidly, Hatzopoulos is focused on expanding the business’ global presence. The recent recruitment and hire of Paul E. Tennola to the new position of Chief Operating Officer, the expansion of London operations and the additional hiring of senior sales, marketing and development staff are all part of the growth strategy.
"The Inc 500 gives America a window on the future-which companies will be the Microsofts and Timberlands of tomorrow," said George Gendron, Inc editor-in-chief. "The economy may have slowed, but entrepreneurial enterprises have always been, and will continue to be, the nation’s foremost engine of growth and job creation."