29West claims strong Q3

Source: 29West

Today 29West announced that Q3 was another record quarter for the firm, its 13th straight quarter of record revenue growth.

29West counts global banks, major exchanges, electronic trading firms and hedge funds among its more than130 production deployments in the US, Europe, and Asia, with deployments scaling from 10s to 1000s of CPUs. This positions 29West as the most deployed next-generation messaging solution across all messaging use cases in all asset classes.

"This demonstrates that the industry as a whole is re-evaluating its use of messaging as a way to gain competitive advantage in the markets," said Mark Mahowald, 29West founder and president. "It's clear that those who haven't already moved their underlying messaging infrastructure to a next-generation solution are certainly planning it. We pride ourselves on being the fastest, most reliable, most scalable and most tunable solution on the market, and happily, it turns out that many financial firms agree."

Of course, a direct result of signing so many customers is continued revenue growth. The firm expects to close out 2009 strong, with about a 70-percent revenue increase for 2009 over 2008, according to Mahowald.

"Another exciting development for us is the addition of an enterprise customer in India," said Annalisa Sarasini, managing director for 29West EMEA. "This represents a new and very dynamic market for us."

 

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