Kx Systems

Kx Systems
Private
Founded 1993
Founders
Headquarters Palo Alto, California, United States
Key people
Parent First Derivative PLC
Website www.kx.com

Kx Systems is a data analytics vendor and the developer of the K programming language, the Q programming language, kdb, and kdb+, a column oriented database based on the K language. Both the language and the database are used in financial modeling and provide data analysis software to Wall Street investment banks,[2] as well as energy, telecommunications, government and other industries.[3]

The company was founded in 1993 by Janet Lustgarten and Arthur Whitney.[4] Whitney is the developer of the K language. In 2014, First Derivatives increased their ownership interest to a 65 percent share of the privately held company as it began expanding its databases to retail, pharmaceuticals and utilities.[3] Kx Systems is headquartered in Palo Alto, California, and has had additional offices in New York City, Switzerland, Germany and Hong Kong.[5]

Overview

In 1993, Whitney and Lustgarten joined together to commercialize the K programming platform Whitney had created after building the A+ language and other trading systems at Morgan Stanley.[2][6] The purpose of the software was to access and explore large data volumes in financial services computer systems.[7] Initially, Kx Systems had an exclusive contract with UBS to provide them with the K programming language. In 1998, the contract with UBS expired and the company launched the kdb database. As part of the database, Whitney developed a new language named Q that operates with K and allows the use of English words as functions.[8]

In 1999, the company reached a marketing agreement with Northern Ireland based, First Derivatives.[9] The agreement would eventually lead to First Derivatives owning a 65 percent share of the company.[3] Kx Systems opened an office in Manhattan in 2002,[10] offices in Germany and Japan in 2003,[11] and an office in Hong Kong in 2009.[12] In 2014, First Derivatives purchased a 65 percent share of the company and Kx Systems began offering its database to other data driven industries.[3] The company has also partnered with the equity trading platform, IEX Group to carry out real-time market surveillance, which can be used for monitoring actions such as insider trading.[13]

References

  1. ↑ Atwood, Alice (December 23, 2015). "Exchange Capacity 'Key Issue'-Kx COO". Futures and Options World. Retrieved January 26, 2016.
  2. 1 2 "A Conversation with Arthur Whitney". 7 (2). Queue Magazine. February 2009: 12–13. Retrieved October 29, 2015.
  3. 1 2 3 4 Groenfeldt, Tom (December 29, 2014). "Kx Systems Takes Finance Expertise to Other Industries". Forbes. Retrieved October 29, 2015.
  4. ↑ "Company Overview of Kx Systems, Inc.". Bloomberg Business. Retrieved October 29, 2015.
  5. ↑ "Kx Systems". CNBC. Retrieved October 29, 2015.
  6. ↑ Williams, Jenny (June 1, 2014). "Janet Lustgarten, CEO at KX Systems, On Shampoo Apps, Databases and Founding Her Own Company". Computer Weekly. Retrieved October 29, 2015.
  7. ↑ Dempsey, Michael (February 8, 2015). "What Data Can Tell You About Customers". Raconteur. Retrieved October 29, 2015.
  8. ↑ Dempster, John. "History of Kdb+/q Database by kx.com". Time Stored. Retrieved October 29, 2015.
  9. ↑ "In Brief:Kx Systems Signs European Marketing Deal". American Banker. March 19, 1999. Retrieved October 29, 2015.
  10. ↑ "Kx Systems Opens New York Office". Finextra. October 18, 2002. Retrieved October 29, 2015.
  11. ↑ Wold, Melanie (February 24, 2003). "Kx Systems Expands to Germany and Japan". Financial News. Retrieved October 29, 2015.
  12. ↑ "Kx Systems Opens Asian Office in Hong Kong, Appoints Burke to Head". Intelligent Trading Technology. February 11, 2009. Retrieved October 29, 2015.
  13. ↑ "IEX Launches Real-Time Market Surveillance". Markets Media. January 2, 2015. Retrieved October 29, 2015.
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