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Japan Exchange Group makes investment in fintech startup OpenGamma

Tokyo Stock Exchange operator Japan Exchange Group Inc (JPX) announced that it has invested in UK-based fintech startup OpenGamma Limited, taking a minority stake as reported by Reuters.

The exchange group’s funding round follows a $13.3 million investment in OpenGamma in October by venture capital firm Accel Partners, Euclid Opportunities and fintech venture arm of electronic trading firm NEX Group Plc, among other investors.

According to the fintech company OpenGamma, it will utilize the investment to expand its services I Japanese market. The size of the investment was not disclosed by the companies.

"Having a strategic investor like JPX is really important, it really helps us in terms of credibility,” Peter Rippon, chief executive of OpenGamma stated. He also stated that the group’s established presence in capital markets will make OpenGamma as its ideal partner in achieving its objectives.

The latest round of funding for OpenGamma comes as investments from corporations comprises more significant share of venture funding for fintech startups.

"We've followed OpenGamma's transformation from an innovator in the development of open source software into an important risk analytics provider for institutional finance," Takeshi Hirano, executive officer of JPX, said in a statement, as reported by Reuters.

OpenGamma is one of the UK's most well known capital markets fintech startups and its services include a tool that allows financial institutions to make margin calculations for the major clearing houses. It offers risk management and open-source platform for hedge funds, banks, derivatives trading, among others.

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