OpenGamma, a leading provider of risk management and analytics solutions, has won the “Best Sell-Side Market Risk Product” category in the 2014 Sell-Side Technology Awards.
The Sell-Side Technology Awards, sponsored by Sell-Side Technology and Waters magazine, recognize leading technologies and third-party vendors, and are chosen by eight experienced judges — four sell-side CIOs/consultants and four of Waters magazine's senior staff members.
The OpenGamma Platform provides real-time market risk management technology that brings unmatched transparency to capital markets operations at a significantly lower total cost of ownership than in-house systems. Used by a wide range of market participants, the platform provides a unified approach to risk management that improves the quality, accuracy and timeliness of data.
"What was crucial to OpenGamma's win is its open architecture and the ease with which it can be incorporated into firms' existing market risk frameworks," explained Victor Anderson, editor-in-chief at WatersTechnology and judge of the awards. "It makes perfect sense to enhance their risk functionality by adding to the existing framework rather than replacing the entire system."
“The derivatives industry’s risk management needs continue to evolve in response to the rapidly changing market environment and new OTC regulatory requirements,” said Mas Nakachi, CEO of OpenGamma. “We are honored to have been selected as the ‘Best Sell-Side Market Risk Product’ by Sell-Side Technology. This award reflects our dedication to meeting our clients’ increasingly challenging risk management needs, especially those arising from the new OTC market structure.”
OpenGamma added the OpenGamma Platform for Margining to its product line in late 2013. This allows clearing members to perform full initial and variation margin calculations and stress testing to support clearing decisions, enabling intraday re-margining of portfolios and responding to Swap Execution Facility’s pings in real time.
In the past year, OpenGamma has received growing industry recognition. It was selected for the annual Fast Company list of the “World's 50 Most Innovative Companies” as the second most innovative company in the category of finance. It also won the “Best New Risk Management Product” category in the 2013 FOW International Awards.
The winners of the Sell-Side Technology Awards were announced during an awards dinner in New York on April 15.