Fri, 24/08/2007 - 06:51
SuperDerivatives, a provider of multi-asset derivatives solutions provider for real-time option pricing, independent revaluation, derivatives data, online trading and risk management systems, has appointed Sam Somech to head the company's global research and development activities.
Somech has a track record of technology leadership and innovation with several successful companies, SuperDerivatives says, inventing and developing the concept of transactional messaging as founder and chief executive of Data Voice Systems. After the company was acquired by IBM, its technology became the foundation of IBM's MQSeries, considered the world's most popular system for messaging across multiple platforms.
Somech later co-founded and served as president of software company Level 8, which successfully floated on Nasdaq in 1996 and whose technology was acquired by Microsoft to provide the foundation for its Microsoft Messenger application. Most recently, Somech was chairman of Itemfield, which he sold in earlier this year to Informatica Corporation. According to SuperDerivatives, he is widely regarded as an industry expert on middleware messaging technologies.
'Sam will lead our fast growing global R&D team, which comprises of hundreds of developers,' says SuperDerivatives president and chief executive David Gershon. 'The continued expansion of the company in product range, breadth of technologies and system sophistication required us to employ someone of Sam's stature and skill.
'Our R&D organization is tasked with supporting several product lines - revaluation centre, market data portal, multi-asset real-time pricing platforms, risk management systems and an online trading network.
'In 2007 we introduced the SD-Funds and SD-Banks real-time pricing platforms, acclaimed for their technological innovation and online multi-asset and cross-asset capabilities. This, together with our aggressive long-term product roadmap, requires very knowledgeable and experienced R&D management. Sam is the best candidate to lead our team of developers in meeting these challenges.'
Somech says: 'My past experience with several highly successful technology companies has enabled me to clearly recognise SuperDerivatives' outstanding achievements, driven by its dedication to innovation. Its product development has consistently been able to meet the demands of the dynamic derivatives markets. Together with a highly talented team of managers, architects, researchers and engineers we will continue to provide our global client base with powerful and intuitive applications for derivatives practitioners.'
SuperDerivatives' products and services are used by companies from both the buy- and sell-side. Its real-time pricing platforms are used by almost all banks around the world, as well as corporations, asset managers, hedge funds, auditors and central banks. SuperDerivatives' revaluation service (SD-Revaluation) is used by banks, hedge funds, asset managers, fund administrators and auditors.
The company also provides risk management systems, an online trading platform, derivatives data and portfolio revaluation services that use its benchmark pricing model and independent global market data network. SuperDerivatives has clients in more than 60 countries and other offices in London, New York, Buenos Aires and Paris.
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