The Japan Exchange Group (JPX) announced today that it has taken 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, NEX (formerly ICAP), Euclid Opportunities and ex-SunGard CEO Cristóbal Conde.
OpenGamma provides an open-source analytics and risk management platform for derivatives trading to hedge funds, banks, clearing houses and asset managers. Its services include a tool which enables financial institutions to make margin calculations for the major clearing houses.
Today’s move positions OpenGamma for expansion as it seeks to provide an objective view of the all-in costs for derivatives users while helping the sell-side to minimise its balance sheet usage and the buy-side with the information needed to 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 established tradition of leading the charge to provide efficient and innovative management of risk for Japan’s financial and capital markets. This track record makes them ideal partners and catalysts for our mission of enabling derivatives users to make smarter trading and clearing decisions.”
“We’ve followed OpenGamma’s transformation from an innovator in the development of open source software into an important risk analytics provider for institutional finance,” added Takeshi Hirano, Executive Officer of JPX.