OpenGamma Selected as Semi-Finalist for Innotribe Startup Challenge

Online, June 16, 2012 (Newswire.com) - OpenGamma Selected as Semi-Finalist for Innotribe Startup Challenge

OpenGamma,creators of the first open-source analytics and risk management platform for the financial services industry, today announced it has been selected as a semi-finalist of the Innotribe Startup Challenge, honouring the company as one of the most promising financial technology and financial services start-ups. On 14th June, OpenGamma will compete against 14 other start-ups at Innotribe Challenge Showcase in Belfast to secure a place as a finalist for the $50,000 grand prize and continuous exposure to investors and financial institutions via the SWIFT network.

Innotribe, SWIFT's initiative to foster collaborative innovation in financial services, and a panel of industry experts selected 15 semi-finalists from hundreds of applications to enter the Challenge. OpenGamma will pitch its solution to a panel of the financial industry's leading angels, VC's and decision makers.

"This recognition is a testament to OpenGamma's ongoing innovation and the spirit of collaboration that underpins all our efforts," said Kirk Wylie, Co-Founder and CEO of OpenGamma. "The OpenGamma Platform is the first open source analytics and risk management platform for the financial services industry, and was created to radically democratize and bring a new level of transparency to these markets. We're proud to be recognized as one of the leading financial technology innovators by Innotribe, and believe this award will help us extend the reach and value of our community and become the de-facto industry standard for quantitative finance."

The winners of the Startup Challenge Showcase in Belfast will receive the opportunity to attend SIBOS in Osaka where they will compete for the $50,000 prize against other finalists from the New York and SingaporeChallenge Showcases.

Matteo Rizzi, Innovation Manager, Innotribe, said, "I'm delighted to announce OpenGamma as a semi-finalist and look forward to discovering more about the business. This year's semi-finalists have assessed the developments and trends in the region and have identified opportunities in the market. The entrants have each demonstrated a forward-thinking and innovative approach to the financial sector and have developed start-up businesses which could have profound impacts on the future of the industry. I'm extremely excited to give OpenGamma the opportunity to pitch its ideas to some of the top decision makers in the industry".

OpenGamma would like to thank SWIFT Innotribe, Cisco, Invest Northern Ireland, Sberbank, Guidewire and the other Innotribe Challenge Partners for making the Innotribe Startup Challenge possible.

For further information about the Innotribe Startup Challenge, please visit: http://innotribestartup.com/ or follow @innotribe on Twitter.

About Innotribe

Launched in 2009, Innotribe is SWIFT's initiative to enable collaborative innovation in financial services. Innotribe presents an energising mix of education, new perspectives, collaboration, facilitation and incubation to professionals and entrepreneurs who are willing to drive change within their industry. It fosters creative thinking in financial services, through debating the options (at Innotribe events) and supporting the creation of innovative new solutions (through the Incubator, Startup Challenge and Proof of Concepts (POCs). It is through this approach, the Innotribe team at SWIFT is able to generate a platform that enables innovation across SWIFT and the financial community. For more information, please visit

About SWIFT

SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,000 financial institutions and corporations in 210 countries. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.

About OpenGamma

OpenGamma was founded in 2009 to develop an open platform for analytics and risk managementfor the financial services industry. The company's flagship technology product, the OpenGamma Platform, is designed to allow financial services firms to unify their calculation of analytics across the traditional trading and risk management boundaries. The company is headquartered in London with an office in New York.

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