London & New York, 9 June 2014 – OpenGamma, a leading provider of risk management and analytics solutions, today announced the addition to its executive team of Mohamed Ait Si Brahim as Vice President of Engineering. In this new role, Ait Si Brahim will focus on further improving OpenGammas engineering practices, ongoing product development and client project delivery. The hire reflects an ongoing commitment by OpenGamma to address many of the industrys current challenges around the efficient use of capital in an evolving market structure landscape.
Ait Si Brahim brings over 15 years experience in capital markets, risk management and technology. He joins OpenGamma after more than three years at LCH.Clearnet, where he served as Head of Risk Technology, responsible for building and supporting a new strategic risk analytics platform providing margining, credit risk, stress testing and regulatory reporting as a service, and where he also established a strong engineering group and supporting development processes. Prior to LCH, Ait Si Brahim served in engineering and leadership roles at Odyssey Financial Technologies (acquired to Temenos in 2010), Reuters Financial Software (now Thomson Reuters) and Clearstream (acquired by Deutsche Börse).
“Joining OpenGamma at this stage in its development is a unique and exciting opportunity for me,” said Ait Si Brahim. “Having worked at the heart of market infrastructure allows me to understand how critical it is to offer robust, well-engineered and cutting-edge margin replication and market risk solutions to the financial services industry.
OpenGamma brings a new transparent approach to risk management technology that gives the ability to truly connect the industry end-to-end.”
“Mohamed brings a tremendous amount of expertise and enthusiasm to our executive team. Hiring someone with this deep risk technology and market structure background demonstrates our commitment to building a world-class R&D team that can deliver true business solutions to our clients at this critical juncture in our industrys evolution,” said Mas Nakachi, CEO of OpenGamma.
OpenGamma added the OpenGamma Platform for Margining to its product line in late 2013. This allows clearing members to perform full initial margin (IM) and variation margin (VM) calculations across central counterparties (CCPs) to enable better assessment of clearing decisions and clearing costs from both a pre-trade and post-trade perspective through intraday re-margining of portfolios and stress testing of market data inputs into those algorithms.
In the past year, OpenGamma has received growing industry recognition. It was selected as the Best Sell-Side Market Risk Product at the Sell-Side Technology Awards in April, and won the Best New Risk Management Product category in the 2013 FOW International Awards.
OpenGamma helps financial services firms evaluate, understand, and manage market risk in an open, transparent manner.
The companys flagship technology, the OpenGamma Platform, provides real-time, cross-asset risk and trading analytics across customized risk scenarios and industry-standard metrics. OpenGamma also develops tools for optimizing performance in the evolving OTC markets, including multi-CCP margin calculations for OTC derivatives.
Used by both buy-side and sell-side firms, exchanges, CCPs, and other segments of the OTC market, OpenGamma brings a new standard of transparency to the industry, enabling users to gain more insight into their underlying risk exposures, better assess the true costs of trading, and respond more rapidly to the ever-evolving regulatory landscape.
Backed by Accel Partners, FirstMark Capital, ICAP plc and Euclid Opportunities, OpenGamma is headquartered in London with an office in New York.
Paragon Public Relations LLC