Palo Alto (11 Dec 2008) – Kx Systems, the leader in high-performance database and timeseries analysis, and Nagler & Company have announced a strategic partnership agreement covering the German-speaking areas of Europe, primarily Germany, Austria and Switzerland as well as Benelux and Poland. Nagler has formed a new company, Symagon, specifically to work with Kx and to provide market data solutions to European financial institutions. Symagon is a wholly owned, Germany-based subsidiary of Nagler & Company.
The main drivers for forming the partnership were the deep market knowledge of Nagler’s consultants and their successful track record of working with Kx and implementing kdb+ at financial institutions, most notably in Germany. The partnership will see Symagon provide sales, consultancy and support services to firms in Benelux, Germany, Austria, Switzerland and Poland.
Says Jens Rick, managing director of Symagon: “Having worked with Kx on a number of market data projects for the last three years we decided that we wanted to formalize what has become a very productive working relationship. We found kdb+ to be far superior to other systems on the market in terms of the speed of implementation, performance and cost of ownership. We are very impressed with Kx’s dedication to its customers, its excellent standard of client support and the continuing enhancement of kdb+.”
Nagler & Company first started working with Kx in 2005; from the first joint project it was clear to both firms that together they offered a winning combination of talent, experience and location. Symagon specializes in market data, providing consultancy that spans all phases of planning, development and implementation and covers quantitative analysis, structuring, algorithmic trading, market making and risk management.
Janet Lustgarten, CEO of Kx Systems, says: “Symagon consultants have a thorough understanding of our philosophy and of our products, kdb+ and q. They have many years’ experience in our core markets and have worked on numerous projects with Kx. Symagon will help us to extend our presence in Europe and provide a high level of expertise to financial institutions in the region.”