The CTRM Blog

I had the opportunity to visit with Meetesh Shah, one of the executive leaders of iRely, and his team yesterday.  iRely has been a somewhat quiet company since their founding several years ago, having been primarily focused on developing a solid base of technical capabilities in commodity trading and logistics, primarily in the petroleum distribution, agriculture and softs markets.

Despite the relatively low profile, the company, headquartered in Fort Wayne Indiana, has built an impressive roster of clients and has added additional capabilities to their product family through both internal development and acquisition.  In fact, in 2011 iRely acquired Comtech, a Houston based ERP and financial systems company.  The acquisition provided not only additional technology and product capabilities, but also expanded iRely’s global footprint with a support center in the Philippines.

January 24, 2012 — London – SunGard has extended its Valdi trading solutions suite to provide access to BETa, the European Multilateral Trading Facility (MTF) launched by the Budapest Stock Exchange (BSE) in November 2011 to serve retail investors. BETa uses the BSE equity trading platform, and offers trading in foreign shares, with market makers supplying continuous liquidity. The BETa product range, initially restricted to Finnish, French, German and Spanish shares, is expected to be broadened in early 2012, with additional products to become available for trading.

Progress Software Names Mike Gualtieri Vice President, Responsive Process Management Solutions Marketing
Bedford, MA 24-Jan-2012 Progress Software Corporation (NASDAQ: PRGS), a leading software provider that enables companies to be operationally responsive, announced today that Mike Gualtieri has joined the company as Vice President of Marketing of the Responsive Process Management (RPM) practice.  Formerly with leading research firm Forrester Research, Gualtieri will lead the marketing of the Progress RPM® solutions, which helps organizations sense and respond to threats and opportunities, and helps them stay ahead of the competition through continuous business process improvement.

Regulatory Reporting, CFTC Position Limits Monitoring, OTC Clearing Workflows and Cleared Swaps Margin Analytics encompassed in new solution packages

New York – January 24, 2012 – OpenLink Financial, LLC (OpenLink), a leading provider of cross-asset trading, risk management and operations processing software solutions, announced today initiatives focused on accelerating compliance with Dodd-Frank regulatory milestones scheduled for 2012.

The Dodd-Frank Wall Street Reform and Consumer Protection Act makes significant changes to regulation of the U.S. over-the-counter (OTC) derivatives market, with the goals of improving transparency, reducing systemic default risk, and promoting market integrity. OpenLink is dedicated to addressing the impact this will have on financial institutions – including regulatory reporting requirements, position limits, and OTC central clearing.

Brady Plc is the only publicly held CTRM vendor in the space.  Being public, and therefore being required to report their financial results, the company provides some unique insights into the health of the CTRM market, especially in their core market area of Europe.

According to their press release of January 16th, the company saw a 70% year-over-year growth in revenues in 2011, including increases in recurring revenue (revenues from support & maintenance, license “rentals”, etc)  of 145%, which represents about 52% of their total 2011 revenues.  Recurring revenues in 2010 were only 36% of total revenues.  They noted that they had secured 14 “substantial” new license sales in 2011, versus 10 in 2010.