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Derivix adds ECN pioneer Schenkman to board

29 June 2009  |  952 views  |  0 Source: Derivix

Derivix, a financial software company providing options pricing, risk visualization and analytics solutions, today announced that it has appointed Richard Schenkman to its Board of Directors. Mr. Schenkman will provide guidance on the company's go-to-market strategy as the company continues its rapid growth.

"Derivix has proven itself as an cutting-edge provider of high-performance options pricing, analytics and risk visualization solutions that allow market participants to make their critical trades in real-time," said Schenkman. "I look forward to helping Derivix leverage its impressive customer roster, strategic partnerships and innovative solutions to drive further growth in the options ecosystem."

Mr. Schenkman is known as a pioneer in equity trading. In 1984, he joined Instinet, the securities industry's first electronic broker, and the first company to develop a worldwide technology platform to improve investment performance. He designed the company's order management system (OMS), which now serves as the industry standard for managing order flow.

After 15 years in senior management positions with Instinet, including Chief Operating Officer, he was appointed CEO and Managing Partner of Brut LLC an alternative trading system (ATS) and electronic communications network (ECN) for equities, which tripled its revenue and market share during his tenure. In 2002, he led the team that sold Brut to SunGard Data Systems. Since then, Mr. Schenkman has served in advisory roles to various financial services technology providers, exchanges and brokerage firms, as well as private equity and non-profit boards.

"As Derivix continues to gain momentum with buy- and sell-side options industry leaders alike, we're thrilled to have a mentor of Richard's stature to guide us into the next phase of growth," said Jonathan Weedon, CEO and co-founder, Derivix.

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