Kx and First Derivatives sign an OEM agreement

26 January 2009

Kx Systems, the leader in high-performance database and timeseries analysis, has announced today that it has signed an OEM License Agreement with First Derivatives plc (FDP), a specialist provider of products and services to the capital market technology sector.

The OEM agreement is an important next phase in the successful ten-year relationship between the two companies, during which time FDP was Kx’s strategic sales partner and provided consulting services to Kx clients. This close working relationship in developing high-performance applications has given FDP an inside view of Kx’s technology. Kx’s kdb+ will be embedded in all FDP’s products, which is expected to significantly accelerate implementations and increase productivity. FDP will continue to provide a high degree of customisation and bespoke development for its clients.

Commenting on the agreement, FDP’s CEO, Brian Conlon, said: “We have had an outstandingly successful working relationship with Kx Systems for more than ten years and I am delighted it has been strengthened further. The combination of the power of kdb+, our global presence, leadership and expertise in this technology and our extensive intellectual property enable FDP to continue to provide compelling applications in the algorithmic trading, market data, complex event processing (CEP) and risk management spaces. We will also be developing new applications to meet demand in other domains such as telecommunications and utilities.” Conlon adds: “Our decision to use kdb+ as the base for all our products is a clear demonstration of our confidence in Kx.”

The first phase of FDP’s planned product rollout will include applications focusing on market data, complex event processing (CEP), real-time trading and real-time risk management. The next phase will see the use of kdb+ for applications in the utilities and telecommunications sectors.

Janet Lustgarten, CEO of Kx Systems, commented: ”This agreement with FDP strengthens Kx’s OEM focus. The (non- Kx) structures that underlie some legacy approaches to real-time business combined with the increase in data volumes are causing systems to fail. The lack of scalability is due to limitations of the ageing relational database and business intelligence technology. Kx’s agreement with FDP will result in high-performance, low latency applications and a fast ROI for clients through substantial reductions in implementation times and costs.”

The agreement between FDP and Kx will result in kdb+ being an embedded engine in all current applications as well as any future products developed by FDP. The agreement terms reflect the companies’ intention of reaching beyond the financial community to provide highly scalable solutions to all industries that are having to cope with vast and growing data volumes.

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