Lustgarten is spending more time with her family and will continue to work with Kx as a strategic consultant. She is succeeded as CEO by Arthur Whitney, who becomes chief executive after 12 years as Kx CTO.

"Janet has done an outstanding job of making Kx a top provider of software for financial services," said Whitney. "We are fortunate she will continue to guide Kx as the company strengthens its leadership position and accelerates its growth."

Said Lustgarten, "I am extremely proud of what the Kx team has accomplished to date and am excited about participating in its continued success. Our products have been forward-thinking for more than a decade. We anticipate that Kx will continue to solve leading-edge problems in financial services."

Simon Garland has been tapped as CTO; he has been with Kx for three years in the role of SVP Technology and brings nearly 30 years of experience in software architecture and development to his new role. Sharon Knestrick has been promoted to Director of Finance reporting to Robert Fourr, COO. Knestrick has been with Kx for two years in the role of controller.

"We have a senior management team and board of directors with many years of experience at the company," said Whitney. "And we continue to have a strong relationship with First Derivatives plc, who have provided sales management and customer services to Kx since 2001."