Front Capital Systems acquires Derivatech
06 April 2004 | 7071 views | 0
SunGard subsidiary Front Capital Systems has acquired Chicago-based derivatives and risk management software firm, Derivatech Risk Solutions, for an undisclosed sum.
Founded in 1996, Derivatech is a provider of foreign exchange derivatives pricing, analytics and risk management software.
Derivatech's products provide volatility surface modelling, pricing and valuation of exotic options and structured products in real time and an extensive set of risk derivatives calculated from a volatility surface.
Under the acquisition, Derivatech's flagship trading and risk management system for FX derivatives, dt Compass, will be supported and sold as a stand-alone product under the Front Arena product suite.
Nicholas Hatzopoulos, chief executive and co-founder of Derivatech, says: "In addition to the dramatically larger asset class offering provided in Front Arena, Derivatech will now be able to offer an even greater level of FX and FX derivatives software solutions, services and support.
Front says it will combine its operations with Derivatech, with both Hatzopoulos and co-founder and software development manager, John Hatzigiannis, expected to play key roles.