Executive Summary
Lombard Risk Management plc, which commenced trading in 1989, is an established financial software and managed services company with a suite of software products primarily focused on interest rate and credit derivative markets. Headquartered in London, and with offices in New York, Hong Kong and Cape Town, the company's client list contains over 20 of the top 50 banks in the world and many of the leading names in the hedge fund industry.
Company History
- The Group, which was founded by John Wisbey, commenced trading in 1989.
- In 1994, the Group established i-documentsystems (‘‘IDOX’’) to acquire a document management business and to develop software in that space. In 1999 it was decided to spin this out as a separately financed company.
- In 1999, the Group entered the credit derivatives market by launching ValuSpread.
Current Events
Business Model
The Company provides software and independent valuation services that allow customers to value and manage risk on a wide variety of financial instruments with a primary focus on interest rate and credit derivative markets. [1]
Products/Services
The Group’s principal software products, Oberon and Firmament, provide a suite of modules handling trade entry and front office trade life cycle, valuation, desk risk management and middle office functionality for a range of financial products including interest rate derivatives, credit derivatives, foreign exchange derivatives, bonds, repos, money markets and equities.
The Group’s principal managed service is a credit derivative price verification service called ValuSpread, one of the market leaders in this area. ValuSpread’s principal customers are the leading global banks and the service assists them in valuing their credit derivative positions
independently. Additional managed services include the valuation of derivative portfolios.
Segments/Customers
Its main customer base consists of major banks, hedge funds and hedge fund administrators.
Production/Operations
The Group has offices in London, New York, Hong Kong and Cape Town.
Distribution/Routes to Market
Market & Competition
Market Share
Main Competitors
The principal competition for the Group’s trading and desk risk management software products comes from subsidiaries of Sungard Data Systems Inc. and of Misys plc. Other competitors include Murex S.A. and subsidiaries of Reuters plc. In the wider risk management market Algorithmics Inc., Sungard Data Systems Inc. and Riskmetrics Group Inc. are all considered competitors in different segments of the market. In the managed services areas, there is competition from Mark-It Partners Ltd and Reech Capital, a subsidiary of…
