By Pat Brazel
A year ago when we announced our strategic partnership with Thomson Reuters we knew Kx was the right technology to power their enhanced analytics platform. What we couldn’t know then was exactly how our collaboration would work as we brought a new, improved product to market together.
Over the past 12 months both company’s domain experts and engineers have jumped into the product development process with good faith and real enthusiasm. Out of that has come a product delivery, roadmap and sales strategy that both companies are proud of. To both firms credit, we seem to have avoided the dreaded “not-invented-here” syndrome. Both companies have brought the best of their technologies together to create a product which builds on, and exceeds, the foundation on which it is built.
The success of a complex collaboration like this doesn’t just come from the top of an organization. Everybody on the team has to believe in, and commit himself or herself, to the shared mission. In this case, we were able to do that first with a core team of experienced technologists from both Kx and Thomson Reuters.
These experts have dozens of years of financial engineering experience between them. It was particularly important to Kx to have team leaders who came from the client side. Who better to design systems for banks and financial institutions looking to comply with MiFID II, and as yet unwritten new banking rules, than programmers with experience building these types of large, complex systems at top banks around the world?
Thomson Reuters is a giant in the financial services industry, but I’ll venture that it would be hard pressed to find another technology company with the heritage of achievement in time-series, in-memory analytics for financial markets as Kx. Our technology has been at the leading edge of Big Data before that phrase was coined. Our software consistently breaks records for speed and performance on real world market data analytics benchmarks. As such, we bring a trusted and proven data platform to the Velocity Analytics 8 product.
Financial institutions have a lot at stake when choosing the market data and analytics software platform they will be using for possibly the next ten years. Profits are being sorely tested at the same time that MiFID II and other new regulations are being implemented. For these organizations, third-party data and software solutions must deliver more than they ever have before. We are optimistic that the Kx/Thomson Reuters collaboration will exceed their requirements and provide new business opportunities by giving them a faster, more in-depth understanding of their trading operations.
Pat Brazel is Chief Revenue Officer and leads the global Kx solutions team. He has over 25 years of experience working in the international financial software industry. Pat was President of SunGard’s Trading and Risk division for many years, a founder of GoldTier Technologies (now part of Thomson Reuters – 2014) and chairman of Polarlake (now Bloomberg Polarlake – 2013). He was a non-executive director of Kx parent, First Derivatives plc, for many years prior to joining the company in an executive capacity in 2015. Pat holds a Masters of Management Science from Trinity College and is a member of the Board of the Dublin City University Educational Trust.