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Derivitec Introduces Hedge Fund Risk Management Tool

Powered by Xignite Market Data, Trade Blotter Aids Mid-Tier Fund Managers

Xignite, Inc., the leading provider of market data cloud services, announced they are working with Derivitec, a U.K. software vendor, to power Derivitec’s Trade Blotter derivatives analytics system. Designed for managers of small- to mid-tier funds, Trade Blotter provides industry-standard financial analytics on-demand.

The hedge fund industry has experienced a huge increase, due partially to the Volcker Rule, part of Dodd-Frank, which limits proprietary trading at large investment banks and has provoked many traders to start their own funds. Managing a new fund is extremely difficult and costly given the multitude of new compliance regulations and required reporting.

Derivitec’s Trade Blotter provides small- to mid-tier hedge fund managers analytics and tools to easily build models for risk analysis. The system helps fund managers get up and running quickly - usually in minutes, not months, and because the market data is stored in the cloud and served on-demand, companies pay only for the data they use – no infrastructure investment.

Xignite provides Derivitec with financial market data, including real-time, delayed and historical quotes, options and rates. Xignite provides market data via easy-to-use APIs. This delivery format allowed Derivitec to shave off days of development time and eliminated expensive technology infrastructure costs.

"Xignite provided cost effective market data that was easy to integrate into our system," said Derivitec founder and CEO George Kaye. "Because the data was delivered as an API, we were able to set up within one week and only pay for the data we needed."

"Xignite has set the standard for ease of use and scalability with market data APIs," said Stephane Dubois, Xignite CEO and founder. "The Xignite team is excited to extend the reach of our market data cloud to Derivitec for integration into Trade Blotter."