20th Mar 2014 12:32
LONDON (Alliance News) - First Derivatives PLC, which provides trading and risk management software to capital markets participants, Thursday said it is collaborating with software company Pivotal Software Inc to deliver next-generation financial applications to the industry.
The two companies are hoping to tap the increasing reliance of capital markets on big data by supplying "robust and adaptable" technology.
"From structured to unstructured, time series to transactional and reference data to metadata the financial services industry requires instant, flexible access to all data types. Pivotal One provides that common access, and First Derivatives provides consulting services on how to utilize it in the development of next-generation financial applications," First Derivatives said in a statement.
The collaboration means First Derivatives will offer consulting services for the design and implementation of financial software and applications for areas such as surveillance, risk management and trading using Pivotal One.
Pivotal One is an integrated platform that includes a set of application and data services that run on top of Pivotal CF, the enterprise distribution of Cloud Foundry.
"Every industry realizes that data rules the world and software is eating the world," Russell Acton, vice president of Europe, Middle East, Africa at Pivotal, said in a statement.
"There is no substitute for insight and understanding, and no industry knows this better than the financial service sector. Our collaboration with First Derivatives will help financial service firms take advantage of Pivotal technologies to allow them to store data at scale, analyse anything and build the right application for their needs. And do this in ways that are much more agile and value driven than the past," he added.
First Derivatives shares were Thursday quoted at 1,125.00 pence, up 3.5%.
By Samuel Agini; [email protected]; @samuelagini
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