Endace (LSE: EDA), world leaders in latency measurement and monitoring solutions, today announced the appointment of Kevin Formby as VP Business Development, reporting directly to Mike Riley, Endace Chief Executive Officer.
Formby joins Endace as the company experiences increasing demand for its Latency Monitoring and packet capture products within the high performance trading sector of the Financial Services market. Formby, an acknowledged expert in the field of high performance trading technologies, joins Endace to help develop and expand their product and service offerings.
Endace, a company with an established global reputation as a platform leader for trade latency monitoring and risk management, has been working its way up the value chain over the last two years and now sees clear opportunity to expand both its market presence as well as its product portfolio.
"There is a clear shift in the trading market as organizations are trading on more exchanges. Latency monitoring gives companies a competitive advantage with deep analysis of packet and trade information," said Mike Riley, CEO of Endace. "Endace's 100 percent packet capture and nano-second time stamping at 10Gb/s, puts us at a competitive advantage over other vendors. The addition of Kevin to the team takes this one step further as we continue to strategically build our already strong financial services team."
Mr. Formby joins Endace from Radianz where he most recently served as Head of Business Development for Radianz services. In 2000 he was part of the original management team that created Radianz, which went on to become the standard means of interconnecting clients for electronic trading. During his ten years at Radianz, he held a series of senior management roles including Head of U.S. Sales, Head of European Sales and Head of Business Development.
"Financial services companies understand that to properly evaluate the networks powering their trading systems, they need to capture each and every packet of network data," said Kevin Formby. "I am joining a clear winning team, because Endace has the fundamental technology to manage 100 percent packet capture. The applications on top of this foundation are significant and numerous, and I look forward to helping clients leverage the advanced Endace capabilities in this market."
Formby is the latest in a growing list of new hires that continue to strengthen Endace's U.S. and U.K. field sales force team.