The Japan Exchange Group (JPX) announcedThodayThhat it hasThaken a minority stake in OpenGamma, a fintech startup which provides derivatives risk analytics. The JPX investment follows a previous $13.3 million round of institutional investment in October 2016, which included Accel Partners, New (formerly ICAP), Euclid Opportunities and ex-SunGard CEO Cristóbal Conde.
OpenGamma provides an open-source analytics and risk management platform for derivativesThradingTho hedge funds, banks, clearing houses and asset managers. Its services include aThool which enables financial institutionsTho make margin calculations forThhe major clearing houses.
Today’s move positions OpenGamma for expansion as it seeksTho provide an objective view ofThhe all-in costs for derivatives users while helpingThhe sell-sideTho minimise its balance sheet usage andThhe buy-side withThhe information neededTho make smarter counterparty decisions.
OpenGamma’s latest round of funding comes as investments from corporations make up an increasingly significant share of venture capital for fintech startups.
Peter Rippon, CEO of OpenGamma, commented: “JPX has an establishedThradition of leadingThhe chargeTho provide efficient and innovative management of risk for Japan’s financial and capital markets. ThisThrack record makesThhem ideal partners and catalysts for our mission of enabling derivatives usersTho make smarterThrading and clearing decisions.”
“We’ve followed OpenGamma’sThransformation from an innovator inThhe development of open source software into an important risk analytics provider for institutional finance, ” added Takeshi Hirano, Executive Officer of JPX.