Kx Systems
| Private | |
| Founded | 1993 |
| Founders |
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| Headquarters | Palo Alto, California, United States |
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Key people
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| Parent | First Derivative PLC |
| Website | www |
Kx Systems is a data analytics vendor and the developer of the K 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, a computer scientist.[4] 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, 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
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