As the founder and Chief Executive of Data Voice Systems, Somech invented and developed the concept of transactional messaging. After his company was acquired by IBM, its technology became the foundation of IBMâs MQSeriesÂ®, considered the worldâs most popular system for messaging across multiple platforms. Somech later co-founded and served as President of software company Level 8, which successfully floated on NASDAQ in 1996. The companyâs technology was acquired by Microsoft to provide the foundation for its Microsoft Messenger application. Most recently, Somech served as active Chairman of Itemfield which he sold in 2007 to Informatica Corporation (NASDAQ: INFA). With this track record he is widely regarded as an industry expert on middleware messaging technologies.
âSam will lead our fast growing global R&D team, which comprises of hundreds of developers. The continued expansion of the company in product range, breadth of technologies and system sophistication required us to employ someone of Samâs stature and skill,â said David Gershon, President and CEO of SuperDerivatives. âOur R&D organization is tasked with supporting several product lines - revaluation center, market data portal, multi-asset real-time pricing platforms, risk management systems and an online trading network. In 2007 we introduced the SD-Funds and SD-Banks real-time pricing platforms, acclaimed for their technological innovation and online multi-asset and cross-asset capabilities. This, together with our aggressive long term product roadmap requires very knowledgeable and experienced R&D management. Sam is the best candidate to lead our strong team of developers in meeting these exciting challenges.â
Commenting on his appointment Sam Somech added: âMy past experience with several highly successful technology companies has enabled me to clearly recognize SuperDerivatives outstanding achievements, driven by its dedication to innovation. Its product development has consistently been able to meet the demands of the dynamic derivatives markets. Together with a highly talented global team of managers, architects, researchers and engineers we will continue to provide our global client base with powerful and intuitive applications for derivatives practitioners.â
SuperDerivativesâ products and services are used by numerous companies from both the buy and sell side. Its real-time pricing platforms are used by almost all the banks around the world, as well as numerous corporations, asset managers, hedge funds, auditors and central banks. SuperDerivativesâ Revaluation service (SD-Revaluation) is used by numerous banks, hedge funds, asset managers, fund administrators and auditors and is considered by many as the most accurate service in the market.
The SuperDerivativesâ benchmark option pricing model is the only publicly available and market tested model whose accuracy in generating real market prices for all types of derivatives has been proven and validated continuously for several years.