< The 2015 Tech 50: Racers to the Edge

“Standard,” “open” and “transparent” are trending keywords in financial services and information technology alike. OpenGamma straddles those worlds as “the only open-source risk and analytics company in fintech,” boasts Mas Nakachi, the London-based company’s 41-year-old CEO. A nagging question for OpenGamma since its founding in 2009 — with backing from venture capital firms Accel Partners and FirstMark Capital, along with ICAP (see Michael Spencer, No. 13) and its Euclid Opportunities fund — has been how to profit from software that is built on openly accessible standards and targeted at an industry in the midst of “fundamental changes, a lot of them regulatory-driven,” as Nakachi puts it. OpenGamma may now be showing the way with a “focus on market structure and its needs for openness and transparency,” he says. “This is why we have been invited in to talk to regulators,” putting forward a margin calculation model for noncleared over-the-counter trades as part of a standard methodology being developed by the International Swaps and Derivatives Association. It is a short leap from such industry-specific utilities to the blockchain, which is “open technology at its core,” Nakachi points out. He is watching the decentralized, cryptocurrency-associated ledger closely because “it is open-source, and the future of finance is decentralized systems” — a disruption to business models that he sees playing out over three to five years. Last October fintech investor and former ICAP executive Mark Beeston (No. 10 on the 2014 Trading Technology 40) became OpenGamma’s chairman, succeeding founder Kirk Wylie, now chief innovation officer. Also joining the board: former SunGard CEO and mentor to start-ups Cristóbal Conde (No. 39 on last year’s Tech 50 and an investor in OpenFin — see Mazy Dar, No. 46).

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The 2015 Tech 50

1. Jeffrey Sprecher Intercontinental Exchange 2. Catherine Bessant Bank of America Corp. Open Architecture and Next-Gen Technology Help Support Model Delivery Sponsored by BlackRock April 24, 2025 3. Phupinder Gill CME Group 4. Lance Uggla Markit 5. Robert Goldstein BlackRock

6. Shawn Edwards & Vlad Kliatchko Bloomberg 7. R. Martin Chavez Goldman Sachs Group 8. Deborah Hopkins Citi Ventures 9. Stephen Neff Fidelity Investments 10. Adena Friedman Nasdaq OMX Group

11. David Craig Thomson Reuters 12. Daniel Coleman KCG Holdings 13. Michael Spencer ICAP 14. Michael Bodson Depository Trust & Clearing Corp. 15. Charles Li Hong Kong Exchanges and Clearing

16. Chris Concannon BATS Global Markets 17. Christopher Perretta State Street Corp. 18. Antoine Shagoury London Stock Exchange Group 19. Kevin Rhein Wells Fargo & Co. 20. Neil Katz D.E. Shaw & Co.

21. Lee Olesky Tradeweb Markets 22. Richard McVey MarketAxess Holdings 23. Seth Merrin Liquidnet Holdings 24. Robert Alexander Capital One Financial Corp. 25. Frank Bisignano First Data Corp.

26. John Marcante Vanguard Group 27. Joseph Squeri Citadel 28. Lou Eccleston TMX Group 29. Claude Honegger Credit Suisse 30. Chris Corrado MSCI

31. David Gledhill DBS Bank 32. John Bates Software AG 33. Michael Cooper BT Radianz 34. Gary Scholten Principal Financial Group 35. Sunil Hirani trueEX Group

36. Hauke Stars Deutsche BÖrse 37. Brian Conlon First Derivatives 38. Jim Minnick eVestment 39. Lars Seier Christensen & Kim Fournais 40. Tyler Kim MaplesFS

41. Jim McGuire Charles Schwab Corp. 42. Steven O'Hanlon Numerix 43. Sebastián Ceria Axioma 44. Yasuki Okai NRI Holdings America 45. Stephane Dubois Xignite

46. Mazy Dar OpenFin 47. Brian Sentance Xenomorph Software 48. Mas Nakachi OpenGamma 49. John Lehner BNY Mellon Technology Solutions Group 50. Jock Percy Perseus