Kx Names DEVnet, the Trading and Risk Consultancy, its Strategic Sales Partner in Continental Europe

Sep 19, 2011, 04:00 ET from Kx Systems Inc

PALO ALTO, California and FRANKFURT, September 19, 2011 /PRNewswire/ --

Kx Systems, the leader in high-performance database and time-series analysis, has announced a strategic sales partnership with DEVnet, the specialist consultancy for risk management and trading systems. The collaboration will see DEVnet market Kx's high-performance database kdb+ and q, its integrated programming language, across Continental Europe, along with consultancy services.

DEVnet has been offering highly specialised consultancy services in the financial markets as well as in energy and commodities for over a decade. It has developed an excellent reputation for supplying and implementing sophisticated solutions in key areas such as risk management, trading and data processing for leading financial institutions, corporations and utilities. DEVnet's team of highly experienced kdb+ consultants comes with a history of implementing successful, enterprise-wide kdb+ projects.

Andreas Kokott, CEO of DEVnet, comments on the partnership: "Our growth in the financial and utilities sectors has been substantial over the last four years. Adding the Kx technology to our portfolio is an obvious step for us, enabling us to focus on our core expertise and provide the best trading and risk solutions to our customers. Kx's kdb+ is far superior to other technologies - it is the fastest and the most flexible system for processing vast quantities of data. Its ability to store any amounts of data, at a reasonable cost, is key to many challenges facing financial institutions and utilities companies in the areas of trading, risk and regulatory compliance."

Says Janet Lustgarten, CEO of Kx Systems: "DEVnet will be an excellent partner for Kx. Their experience in our core markets spans many years, and their team of kdb+ experts is first rate. They understand the demands of the marketplace and are able to deliver the solutions our clients need. I am delighted to be working with the team, and look forward to extending our reach further in Continental Europe."

Working with Kx Systems, DEVnet will provide sales, support and consultancy for kdb+ in the following areas:

  • Analytics for real-time risk and CEP infrastructures.
  • Business intelligence in high volume trading.
  • Enterprise-wide solutions for market data management.
  • Pricing of derivatives and structured products.
  • Real time scenario analysis and aggregation.
  • Market making infrastructures.

Robin Mess, Director of Sales at DEVnet, says: "The partnership with Kx further extends DEVnet's innovative approach to providing market-leading solutions to financial institutions. With kdb+ our knowledge of and experience in financial markets allows us to offer a host of new benefits to clients, for example: reducing operational risk in automated trading environments; improving productivity and time-to-market of critical applications; helping to create new business opportunities with best-of-breed analytics."

Notes to Editors

About DEVnet

Established in Germany in 1998, DEVnet specialises in providing services and solutions in the demanding areas of global financial trading and risk management, with a focus on delivering performance, scalability and quality. It provides data processing solutions for leading financial institutions, corporations and utilities across Continental Europe. DEVnet develops and maintains long-term partnerships with well-known international and regional enterprises of all sizes.

DEVnet employs over 100 consultants and architects based in Frankfurt, Munich, Hamburg and Wroclaw. http://devnet.de  

About Kx Systems

Kx offers a unified approach to real-time and historical data analysis with its high-performance kdb+ database platform. kdb+ provides a portable implementation of our expressive query and programming language to analyze and store streaming events, manipulate in-memory and on-disk databases, and build distributed low-latency applications. Our focus is on delivering the best performance and flexibility for high-volume, data-intensive analytics and applications. For more information visit: http://kx.com

For Kx:
US & Europe: Alla Lapidus
Moonlight Media

Asia: Ellie Bacon/Steph Johnson
Aspectus PR
+44-(0)20-7182-4081 or +1-646-274-1348

SOURCE Kx Systems Inc