NumeriX has launched CompatibL Technologies, a new division that will focus on interoperability standards and technologies for derivatives transactions.
CompatibL will provide integration technology to carry the flow of financial data between a range of internal and vendor systems and analytics packages. The company will also provide implementation consultancy services and training.
Alexander Sokol, founder and former chief technology officer of NumeriX, will be president and CEO of the new company. He says there is a need for an integration platform that will advance the ability of different software systems to exchange complex derivatives data.
"By bridging the gap between disparate data formats used by different software and analytics packages, CompatibL will dramatically improve the interoperability of different systems and their integration with open standards such as FpML," adds Sokol.