May 4, 2017 – New York and London – OpenFin today announced the launch of OpenFin Community Edition, giving application developers free access to its operating layer for financial desktop web applications. In addition, OpenFin has open sourced its core technology, in a project called Hadouken, under an Apache 2.0 license.
OpenFin’s enterprise-grade, paid offering powers applications licensed on over 125,000 desktops, including applications from 35 of the world’s largest banks and trading platforms. OpenFin Community Edition provides a free commercial license for applications that don’t require enterprise features and support . Separately, the new open source project will enable direct contribution to the operating layer from firms both inside and outside the financial industry.
Firms who have announced they will be supporting the open source project include Microsoft, NodeSource, Barclays, Citadel, J.P. Morgan, Morgan Stanley, NEX Group, TP ICAP and Trading Technologies.
Jonathan Carter, program manager at Microsoft said: “By building on the open web stack, Hadouken easily fits into the ecosystem we have created around Visual Studio Code. We are looking forward to our continued collaboration with OpenFin and expanding our developer tooling for Hadouken in Typescript and Visual Studio Code.”
“Node.js is the fastest-growing open source project on Earth. By adopting Node, organizations can drastically cut infrastructure costs and improve time-to-market,” said Joe McCann, CEO at NodeSource. “OpenFin brings an enterprise-level security model to Node on the financial desktop. We are excited to be participating in Hadouken and helping drive Node adoption forward across the financial industry.” NodeSource provides commercial Node.js products with security and reliability enhancements to meet the needs of the enterprise.
“Our new Community Edition provides a better alternative for firms who use open source projects primarily because they are free,” said Mazy Dar, CEO and co-founder of OpenFin. “By also open sourcing, we’re providing transparency in our architecture, reducing lock-in and enabling direct contribution from the developer community. Both initiatives are part of our commitment to openness and interoperability.“
OpenFin Community Edition provides instant deployment, security sandboxing and native desktop experience including windowing, notifications and secure system access. OpenFin Enterprise Edition, which is a paid license, further includes:
- Enterprise support with an SLA and feature prioritization
- Negotiated contracts with IP indemnity, reps and warranties
- On-prem OpenFin hosting and license management
- Control of OpenFin upgrade process and support for older versions
- Language adapters for .NET, Java and Flash
- Plug-ins for Excel and other common financial desktop applications
Move fast. Break nothing. OpenFin is the financial industry’s first common operating layer, enabling rapid and secure deployment, native experience and desktop interoperability. The world’s largest banks and trading platforms use OpenFin to deploy desktop applications both in-house, and to their buy-side and sell-side customers. OpenFin investors include Bain Capital Ventures, DRW Venture Capital, Euclid Opportunities, J.P. Morgan, Nyca Partners and Pivot Investment Partners among others. The company is based in New York with offices in London.
OpenFin Company Backgrounder and Fact Sheet
Year Founded: 2010
Headquarters: New York, NY & London, UK
# Employees: 25
Funding to date: $22MM
$15MM Series B, February 2017
$4MM Series A, April 2014
$3MM in Angel investments, from 2011
Bain Capital Ventures,
DRW Venture Capital
Euclid Opportunities (NEX Group’s investment arm, spun out from the merger of ICAP and Tullett Prebon),
Pivot Investment Partners,
an elite group of angels and financial industry executives
Traction: OpenFin technology powers desktop applications licensed across over 100,000 desktops, for 35 of the world’s largest banks and trading platforms.
Notable Customers: J.P. Morgan, Citadel, Electronifie, REDI, Trumid, Greenkey, ICAP, OpenDoor, embonds, Tullett Prebon, and more
What is OpenFin? The first and only common operating layer for financial desktop applications
OpenFin uses a modern, open technology stack to create a common operating layer for the thousands of desktop applications powering capital markets, enabling rapid development and deployment, while simultaneously improving security. The world’s largest banks and trading platforms use OpenFin to deploy desktop applications both in-house, and to their buy-side and sell-side customers. Applications running on OpenFin also benefit from an improved time-to-market, dropping application deployment and update time from 6-18 months to “instant”. The technology underpinning OpenFin is Google’s Chromium engine which runs on Windows, Mac and Linux and provides a highly secure, sandboxed environment.
OpenFin investors include Bain Capital Ventures, DRW Venture Capital, Euclid Opportunities, J.P. Morgan, Nyca Partners and Pivot Investment Partners among others. The company is based in New York with offices in London.
Mazy Dar, CEO and Co-founder
Mazy is CEO of OpenFin. Prior to OpenFin, he led credit derivative strategy at the Intercontinental Exchange and served on ICE’s executive committee. Before ICE, Mazy was Chief Strategy Officer of Creditex which was backed by JPMorgan, Deutsche Bank and TA Associates and acquired by ICE in 2008. Mazy started his career at UBS as a software programmer. He earned a degree in Computer Science and French Literatue from Cornell University.
Chuck Doerr, COO and Co-founder
Chuck is President and COO of OpenFin. Prior to OpenFin, Chuck was at ICE, where he was responsible for ICE’s CDS e-trading and processing technology and software development. Before ICE, Chuck served as CTO of Creditex responsible for all technology initiatives. Chuck attended Carnegie Mellon University where he earned a Bachelor‘s and Master’s degrees in Electrical and Computer Engineering.
Company website: www.openfin.co
Board of Directors:
Sam Cole – President and Co-founder of Phigital
Matt Harris – Director, Bain Capital Ventures
Paul Humphrey – head of FICC strategy for Euronext
Dinkar Jetley – Co-founder, Pivot Investment Partners, previously CEO of Worldwide Securities Services at JPMorgan Chase.
Tom Miglis – Partner, Investment at Nyca Partners
- David Temkin – Entrepreneur and Silicon Valley veteran