Kx Systems

KX is a data analysis software developer and vendor. It is a business unit of AIM-listed technology and services group FD Technologies (LON: FDP). Its KX Insights platform is built upon the proprietary time series database kdb+ and its programming language q. Kdb+ is optimized for ingesting, analyzing and storing massive amounts of structured data in real-time and has set multiple records in STAC Research benchmarks.[6] Kdb+ is used in financial modeling and data analysis by Wall Street investment banks,[7] and energy, telecommunications, government, and other industries.[8]

KX
TypePrivate
IndustrySoftware
Founded1993 (1993) in Palo Alto, California
Founders
Headquarters
Palo Alto, California
,
United States
Number of locations
14 offices[1] (2018)
Area served
Key people
Products
ParentFD Technologies plc
Websitekx.com

The company was founded in 1993 by Janet Lustgarten and Arthur Whitney.[9] 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.[8] In 2018, First Derivatives (now FD Technologies plc) announced plans to buy out the remaining shares of KX.[10] KX has offices in New York City, London, England, Ireland, Germany, Australia, Singapore, Tokyo, and Hong Kong.[1][11]

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.[7][12] The purpose of the software was to access and explore large data volumes in financial services computer systems.[13] Initially, Kx Systems had an exclusive contract with Swiss global financial services firm UBS to provide them with the K language. In 1998, the contract with UBS expired and the firm launched the kdb+ database. As part of kdb+, Whitney developed a new language named q that operates with k and uses English keywords.[14]

In 1999, the firm reached a marketing agreement with Northern Ireland based firm, First Derivatives.[15] Kx Systems opened an office in Manhattan in 2002,[16] offices in Germany and Japan in 2003,[17] and an office in Hong Kong in 2009.[18] In 2014, First Derivatives purchased a 65 percent share of Kx Systems, which began a trend in offering Kdb+ to other data-driven industries.[8] Kx Systems has also partnered with the equity trading platform, IEX Group Inc., to conduct real-time market surveillance, which can be used to monitor actions such as insider trading.[19]

To demonstrate this expansion of Kdb+ into verticals outside of finance, Kx has entered into a partnership with Aston Martin Red Bull Racing[20] and has become a technology supplier to NASA's Frontier Development Lab.[21] As of 2019 Kdb+ is available as an on-demand solution via the Amazon Web Services (AWS) Marketplace.[22]

In July 2018, FD Technologies bought all remaining shares in KX Systems that it did not already hold.[23] Co-founders Whitney and Lustgarten then went on to found Shakti.[24][25]

Fusion Interfaces

As of mid 2018, Kx released a ‘Fusion’ initiative to increase the interface options for kdb+.[26] These include:

  • Python
  • Java
  • R
  • Kafka
  • Jupyter
  • C#

References
  1. "KX: Contact Us". KX. Retrieved March 6, 2018.
  2. "FD Technologies appoints Ashok Reddy as CEO of KX division". youinvest.co.uk. August 5, 2022.
  3. "Kc Systems". Craft.{{cite web}}: CS1 maint: url-status (link)
  4. "Kc Systems". Craft.{{cite web}}: CS1 maint: url-status (link)
  5. Atwood, Alice (December 23, 2015). "Exchange Capacity 'Key Issue'—Kx COO". Futures and Options World. Retrieved January 26, 2016.
  6. "Search | STAC - Insight for the Algorithmic Enterprise | STAC".
  7. "A Conversation with Arthur Whitney". 7 (2). Queue Magazine. February 2009: 12–13. Retrieved October 29, 2015. {{cite journal}}: Cite journal requires |journal= (help)
  8. Groenfeldt, Tom (December 29, 2014). "Kx Systems Takes Finance Expertise to Other Industries". Forbes. Retrieved October 29, 2015.
  9. "Company Overview of Kx Systems, Inc". Bloomberg Business. Retrieved October 29, 2015.
  10. "First Derivatives in £41m share buyout". BBC News. 2 July 2018.
  11. "Kx Systems". CNBC. Retrieved October 29, 2015.
  12. 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.
  13. Dempsey, Michael (February 8, 2015). "What Data Can Tell You About Customers". Raconteur. Retrieved October 29, 2015.
  14. Dempster, John. "History of Kdb+/q Database by kx.com". Time Stored. Retrieved October 29, 2015.
  15. "In Brief: Kx Systems Signs European Marketing Deal". American Banker. March 19, 1999. Archived from the original on April 9, 2016. Retrieved March 6, 2018.
  16. "Kx Systems Opens New York Office". Finextra. October 18, 2002. Retrieved October 29, 2015.
  17. Wold, Melanie (February 24, 2003). "Kx Systems Expands to Germany and Japan". Financial News. Archived from the original on April 9, 2016. Retrieved October 29, 2015.
  18. "Kx Systems Opens Asian Office in Hong Kong, Appoints Burke to Head". Intelligent Trading Technology. February 11, 2009. Retrieved October 29, 2015.
  19. "IEX Launches Real-Time Market Surveillance". Markets Media. January 2, 2015. Retrieved October 29, 2015.
  20. "First Derivatives signs deal with Red Bull Racing".
  21. "Final frontier: First Derivatives selected for NASA project".
  22. "AWS Partner Solutions Finder".
  23. "FD to buy out minority Kx Systems shareholders". FD Technologies plc. Retrieved 2021-10-22.
  24. "shakti". shakti.com. Retrieved 2021-10-22.
  25. November 2019, Sarah Butcher 27 (2019-11-27). "The new data platform from the reclusive genius of banking IT". eFinancialCareers. Retrieved 2021-10-22.
  26. "Anaconda | Anaconda and Kx Systems Partner to Deliver KDB+ Database…".
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