About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Cloudsoft Lifts OpenGamma Analytics and Risk Management into the Cloud

Subscribe to our newsletter

Cloudsoft, a provider of multi-cloud applications management software, has moved OpenGamma into the cloud to offer an analytics and risk management service that is flexible and dynamic, and can be shared across a financial institution.

The company’s initial work with OpenGamma – both Cloudsoft and OpenGamma are open source specialists – was a response to a global investment bank’s request for a demo of Cloudsoft’s Application Management Platform (AMP) showcasing a global service across multiple regions and including in-region elasticity. The company chose to work with OpenGamma on the demo and is now running a proof of concept at the bank, ahead of commercialising the solution.

Duncan Johnston-Watt, founder and CEO at Cloudsoft, explains: “There is interest on both sides to commercialise AMP for OpenGamma, so both companies will invest to develop the solution and provide more options on how OpenGamma is deployed and configured. We expect to finalise this and commercialise the solution before the end of this year.”

A move into the cloud was in OpenGamma’s plans, but finding it difficult in the short term to resource a development project, working with Cloudsoft has extended the company’s analytics and risk management platform into the cloud. Jim Moores, chief technology officer at OpenGamma, says: “OpenGamma is componentised. In the past, the platform’s resources were dedicated, but Cloudsoft allows them to be virtual. Cloudsoft adds infrastructure to OpenGamma, a management layer that can, for example, detect a machine failure and bring up a replacement running OpenGamma. It can also manage and allocate cloud resources depending on use in different regions.”

Johnston-Watt adds: “This simplifies the management of OpenGamma. We are good at managing application infrastructure and matching it to cloud resources, so we can orchestrate the delivery of different parts of OpenGamma to different locations and deal on demand with any issues of scale.”

To meet the needs of OpenGamma users, Cloudsoft includes application programming interfaces (APIs) designed to request cloud services from a wide variety of environments. At the moment, the company is testing deployment of the OpenGamma cloud service on the Google Cloud Platform, HP Cloud, Softlayer Cloud and Interoute Virtual Data Centre. The aim is to allow these environments to be mixed and matched, perhaps to leverage different cloud service providers in different geographies or to avoid dependency on a single supplier.

With the OpenGamma cloud service, which is based on version two of OpenGamma that was released this summer, expected to be available in the market later this year, Cloudsoft is holding similar conversations with other independent software vendors (ISVs). Johnston-Watt says: “We are keen to partner ISVs with high value applications and create new offerings – not just an application management platform for apps, but packages customers can set up and run with minimum effort.”

Beyond individual solutions for individual banks, Johnston-Watts suggests a logical extension of Cloudsoft’s solution could be a service offering to many banks run over a managed network such as BT Radianz.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Proactive RegTech approaches to fighting financial crime

Financial crime is a global problem that costs the economy trillions of dollars a year, despite best efforts by financial services firms, regulators, and governments to stem the flow. As criminals become more sophisticated in how they commit financial crime, so too must capital markets participants working to challenge criminality and secure the global financial...

BLOG

NICE Actimize GenAI Solutions Cut Crime Investigation and SAR Filing Time

NICE Actimize, a provider of financial crime, risk, and compliance solutions, has released generative AI solutions designed to reduce the time and manual effort traditionally required for financial crime investigations and compliance reporting. The company suggests the solutions offer up to a 50% decrease in investigation time and a 70% reduction in Suspicious Activity Reporting...

EVENT

Data Management Summit London

Now in its 14th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...