Miami (23 Oct 2001) – Kx Systems, Inc., leader in enabling financial services firms to meet the challenges of acquiring, managing and analyzing massive amounts of business data at extremely high speeds, today announced a joint consulting and implementation partner agreement with First Derivatives Plc. Headquartered in Ireland, First Derivatives is a financial services consulting firm with expertise in banking, insurance, IT, online trading and financial/mathematical modeling.
First Derivatives will expand Kx Systems’ reach through its extensive network of European consultancies. Kdb is an ultra fast relational database used by financial institutions worldwide for sub-second analyses on billions of records of historical and real-time data. Kdb/tick is a specialized application on kdb that combines real-time and historical trading data for sub-second analysis.
“Jointly, we can provide solutions for businesses that depend on real-time analysis of streaming data or massively large historical data,” said Michael O’Neill, a director at First Derivatives. “First Derivatives and Kx are targeting financial services organizations with data intensive requirements, such as major European banks and insurance companies.
“Kx’s partnership with First Derivatives is key to our further expansion into the European markets,” said Kx CEO Janet Lustgarten. “We are seeing the growing adoption of real-time analytics by the financial services industry in both the U.S. and Europe. Combined with First Derivatives’ expertise and track record in the derivatives industry, Kx will vastly improve and help automate the way trading decisions are made.
Formed in 1996, First Derivatives is a recognized and respected service provider with an enviable client list. Based in Northern Ireland, the company has drawn its 35 consultants from a range of technical backgrounds; they have extensive industry experience in derivatives, banking, fund management, insurance and financial/mathematical modeling.
The company recently established itself in the field of on-line trading and web-commerce software development and has formed a subsidiary, k-hub, to take advantage of its expertise in this field.