Simplex Partners with Beacon - Risk Magazine's FinTech Start-Up of the Year
Partnership aims to build a next-generation Simplex trading and risk management solution, code-named GenesisEIP
Simplex will accelerate growth in North American, European and Asian Markets
NEW YORK/TOKYO - April 18, 2017 - Simplex Inc., one of Asia's leading financial services technology firms, announced a strategic partnership with Risk Magazine's FinTech start-up of the year, Beacon Platform, Inc.
The partnership combines Simplex's expertise in implementing trading and risk management solutions with Beacon's experience in building cross-asset trading and risk management platforms for industry leaders including Goldman Sachs, JP Morgan and Bank of America Merrill Lynch.
"Beacon is the first transparent source vendor platform in finance. It enables our trusted partner Simplex to build completely integrated modules and applications in an app-store like environment and deliver their unique expertise to their clients while leveraging Beacon's platform-as-a-service, dependency graph, reference financial models and applications", says Beacon CEO, Kirat Singh.
Over the past 2 years, Simplex and Beacon have invested significantly to jointly build a next-generation, cloud-enabled trading and risk management solution, code-named GenesisEIP, to bridge the gap between traders, quants, risk managers and IT. The solution enables quick delivery and focuses on time to market, enabling solutions to be deployed in days instead of months.
"Simplex is a major trading software platform player in Asia and has been working with Beacon since 2015. We see this partnership as formalizing an already strong relationship. The upcoming next-generation Simplex trading and risk management solution, GenesisEIP powered by Beacon, will be a must-have platform for companies that want to leverage the tremendous changes coming to the industry," says Simplex CEO Hideki Kaneko. With annual growth of more than 20% over the last twenty years, Simplex continues to deliver robust, sophisticated solutions and has become a trusted partner and insider to its clients. GenesisEIP powered by Beacon is expected to launch in 2018.
About Simplex Inc.
Established in 1997, Simplex Inc. provides consulting, system development, maintenance and operations to some of the largest banks, asset managers and insurance companies in Asia. With more than 20 consecutive years of profitability, Simplex has served more than 50 clients. The company is headquartered in Tokyo with offices in San Francisco and New York. Simplex employs more than 1,000 financial and software engineers and has invested significant capital to build a next-generation software solution for the financial services industry.
About Beacon Platform, Inc.
Beacon Platform, Inc. was founded by the front office trading and risk technologists who created SecDB, Athena and Quartz at Goldman Sachs, JP Morgan and Bank of America Merrill Lynch. Leveraging the experience and lessons learned during their extensive careers at major investment banks, Beacon's founders have created the only third-party solution on the market that integrates end-user applications for the financial services industry within a comprehensive developer platform. Beacon has offices in the United States, Germany, UK, and Canada and recently won Risk Magazine's award for 2017 Fintech Startup of the Year.
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