Open Source for Vertical Apps: Is Wall Street Ready?
Jun 09, 2011, 19:00 (0 Talkback[s])
(Other stories by Dan Woods)
Re-Imagining Linux Platforms to Meet the Needs of Cloud Service Providers
"OpenGamma, a startup which has so far received two rounds of
funding from Accel Partners and FirstMark Capital, is creating a
open-source-based platform for trading and risk analytics software
to support front office applications. Every single financial
services firm has a huge portfolio of securities that must be
closely observed and analyzed in as close to real time as possible.
Many of the processes involved in gathering the data, summarizing
it, analyzing it, and enhancing it with new data from a variety of
standard sources are done in the same way.
OpenGammaâ€™s bet is that its platform can become
the way that a large number of financial services firms run their
front office and risk analysis processes.
"One challenge facing OpenGamma is that its software is in the
middle area of the spectrum between proprietary software and
infrastructure. OpenGamma is betting that the front office and risk
analysis processes are now well-understood enough that it can
capture the common aspects of these applications in its platform.
Financial services companies can use OpenGamma instead of paying
commercial vendors or developing their own custom software."