Derivation Software opens New York office

New York - 23 August 2010

Derivation Software, the premier provider of integrated portfolio and risk management solutions for the capital markets industry, today announced its expansion into the U.S. market with the opening of a New York office on Wall Street to be headed by David Boot.

The office has been opened in response to Derivation’s growing client base in the U.S. of Investment banks, brokerages, hedge funds and asset managers and also to support the increasing opportunities that are arising there.

“The opening of the New York office is a significant step forward in Derivation’s global expansion plans and is in response to the growing demand for the Derivation suite of products”, said Kevin Lenehan, CEO of Derivation Software. “We are delighted that David, who has been with Derivation for more than 6 years is going to lead our operation in the U.S. as he has a wealth of product and market experience that will prove invaluable to us there. We have already developed a strong client base in the U.S. market and this has been reinforced with our recent signing of a large investment bank to provide their Convertible bond desk with our market leading Derivation Trader and Derivation Fund software. We are very encouraged by the outlook for us in the U.S. and believe that this will lead to many more significant deals in the future”.

Derivation Trader is a real-time portfolio and risk management system used by trading desks, hedge funds and other investment management firms. The system is designed to provide users with a powerful and flexible tool with the ability to monitor real time risk, analytics, pricing, P&L and positions across all asset classes. Derivation Fund is a portfolio management system that is designed to be the core system within an investment management firm’s operation. The system provides trade lifecycle and position management, cash management and integration with key third parties.

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