OpenGamma Nets $13.3 Million to Grow Solutions
Peter Rippon was recently appointed the company's new CEO.

Other investors include former SunGard president and CEO Cristobal Conde, who first invested in OpenGamma in 2014, and has since joined its board as an independent non-executive director. Icap coursed its backing of the firm through its emerging technology investment arm Euclid Opportunities.
Newly appointed OpenGamma CEO Peter Rippon said in a statement that the investment will allow the company to expand its offering.
"We've demonstrated that we are an innovative and effective developer of technology solutions for the financial community," Rippon said. "This investment now lets us build from these solid foundations to become a world-class partner and provider of benchmark industry solutions."
OpenGamma provides software-as-a-service (SaaS) solutions based on an open-source library of derivatives pricing and risk models to address the needs of over-the-counter (OTC) and privately negotiated derivatives contracts. The open-source library the firm built lets users measure and compare margin requirements. It also offers custom solutions and risk products to its stable of bank, clearinghouse and buy-side clients.
The company said its solutions help clients deal with an increasingly complex environment where even uncleared derivatives have to be collaterized.
Jenny Knott, CEO of Icap's post-trade risk and information division, said the investment into OpenGamma aligns with Icap'a focus on market structure.
"Our commitment to OpenGamma reflects our belief that the derivatives markets are embracing innovative solutions to address capital and operational challenges," Knott said. "It also aligns with our strategic focus on market structure that enables clients to optimize their regulatory and financial resources."
OpenGamma CEO Rippon was appointed to his new position after founder Kirk Wylie left the firm to pursue other business opportunities. Rippon was previously the COO. Former CEO Mas Nakachi will be the new vice chairman and will focus on the firm's global network.
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