KX Systems
{{COI|date=October 2022}}
{{Infobox company
| name = KX Systems Inc.
| logo = Kx logo.svg
| logo_size = 100px
| trading_name = KX Systems
| type = Private
| industry = Software & Tech Services
| fate =
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| founded = {{Start date and age|1993}} in Palo Alto, California
| founders = {{Unbulleted list |Janet Lustgarten |Arthur Whitney}}
| hq_location_city = New York, New York
| hq_location_country = United States
| num_locations = 14 offices{{cite web |url=https://kx.com/about-kx/#contact-us |title=KX: Contact Us |work=Kx |access-date=March 6, 2018}}
| num_locations_year = 2018
| area_served = {{Unbulleted list |Asia |Europe |North America}}
| key_people = {{Unbulleted list |Ashok Reddy{{cite web |url=https://www.youinvest.co.uk/articles/latestnews/248261/fd-technologies-appoints-ashok-reddy-ceo-kx-division |title=FD Technologies appoints Ashok Reddy as CEO of KX division |website=youinvest.co.uk |date=August 5, 2022}} |(CEO) |Eric Raab{{Cite web|last=|first=|date=|title=Kc Systems|url=https://craft.co/https://kx.com/news/appointment-of-eric-raab-as-kx-cto/|access-date=|website=Craft}}|(CTO) |David Humphries{{Cite web|last=|first=|date=|title=Kc Systems|url=https://kx.com/news/fd-appoints-david-humphries-as-global-coo/|access-date=|website=Craft}} |(COO){{cite web |url=http://www.fow.com/3516843/Exchange-capacity-key-issue---Kx-COO.html |title=Exchange Capacity 'Key Issue'—Kx COO |publisher=Futures and Options World |date=December 23, 2015 |first=Alice |last=Atwood |access-date=January 26, 2016}} }}
| products = {{Unbulleted list |k |kdb+ |q}}
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| parent = FD Technologies plc
| website = {{URL |https://kx.com}}
}}
KX is a privately owned software company that sells a time series database kdb+, used for financial modeling and data analysis, and its associated proprietary programming language q.{{Cite web |title=Search | STAC - Insight for the Algorithmic Enterprise | STAC |url=https://stacresearch.com/search?search_api_views_fulltext=kdb%2B |website=stacresearch.com}}{{cite journal |date=February 2009 |title=A Conversation with Arthur Whitney |url=http://queue.acm.org/detail.cfm?id=1531242 |journal=Queue Magazine |volume=7 |issue=2 |pages=12–13 |doi=10.1145/1515964.1531242 |access-date=October 29, 2015}}
It was founded in 1993 by Janet Lustgarten and Arthur Whitney,{{cite magazine |url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=7490110 |title=Company Overview of Kx Systems, Inc. |magazine=Bloomberg Business |access-date=October 29, 2015}} the developer of the K programming language. In 2014, First Derivatives increased their ownership interest to 65 percent; in 2018, the company (now FD Technologies plc) announced plans to buy out the remaining shares of KX.{{cite news | url=https://www.bbc.co.uk/news/uk-northern-ireland-44685608 | title=First Derivatives in £41m share buyout | work=BBC News | date=2 July 2018 }} KX has offices in New York City, London, England, Ireland, Germany, Australia, Singapore, Tokyo, and Hong Kong.{{cite web |url=https://www.cnbc.com/id/100886612 |title=Kx Systems |date=15 July 2013 |publisher=CNBC |access-date=October 29, 2015}}
Overview
In 1993, Whitney and Lustgarten joined to commercialize the k programming platform Whitney had created after building the A+ language and other trading systems at Morgan Stanley.{{cite web |url= http://www.computerweekly.com/blogs/witsend/2011/06/janet-lustgarten-ceo-at-kx-systems.html |title=Janet Lustgarten, CEO at KX Systems, On Shampoo Apps, Databases and Founding Her Own Company |publisher=Computer Weekly |first=Jenny |last=Williams |date=June 1, 2014 |access-date=October 29, 2015}} The purpose of the software was to access and explore large data volumes in financial services computer systems.{{cite web |url=http://raconteur.net/technology/what-data-can-tell-you-about-customers |title=What Data Can Tell You About Customers |publisher=Raconteur |first=Michael |last=Dempsey |date=February 8, 2015 |access-date=October 29, 2015}} 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 operated with k and uses English keywords.{{cite web |url=http://www.timestored.com/kdb-guides/history-of-kdb-arthur-whitney |title=History of Kdb+/q Database by kx.com |publisher=Time Stored |first=John |last=Dempster |access-date=October 29, 2015}}
In 1999, the company reached a marketing agreement with a Northern Ireland based firm, First Derivatives.;{{cite news |author= |title=In Brief: Kx Systems Signs European Marketing Deal |url=https://www.highbeam.com/doc/1G1-54162497.html |archive-url=https://web.archive.org/web/20160409133333/https://www.highbeam.com/doc/1G1-54162497.html |url-status=dead |archive-date=April 9, 2016 |work=American Banker |date=March 19, 1999 |access-date=March 6, 2018}} it opened an office in Manhattan in 2002,{{cite web |url=http://www.finextra.com/news/fullstory.aspx?newsitemid=7017 |title=Kx Systems Opens New York Office |publisher= Finextra |date= October 18, 2002 |access-date= October 29, 2015}} Germany and Japan in 2003,{{cite web |url=http://www.highbeam.com/doc/1G1-100746531.html |archive-url=https://web.archive.org/web/20160409050044/https://www.highbeam.com/doc/1G1-100746531.html |url-status=dead |archive-date=April 9, 2016 |title=Kx Systems Expands to Germany and Japan |first=Melanie |last=Wold |publisher=Financial News |date=February 24, 2003 |access-date= October 29, 2015}} and Hong Kong in 2009.{{cite web |url=http://intelligenttradingtechnology.com/article/kx-systems-opens-asian-office-hong-kong-appoints-burke-head |title=Kx Systems Opens Asian Office in Hong Kong, Appoints Burke to Head |publisher=Intelligent Trading Technology |date=February 11, 2009 |access-date=October 29, 2015 }}{{Dead link|date=February 2020 |bot=InternetArchiveBot |fix-attempted=yes }} In 2014, First Derivatives purchased a 65 percent share of Kx Systems.{{cite web |url=http://marketsmedia.com/iex-launches-real-time-market-surveillance/ |title=IEX Launches Real-Time Market Surveillance |publisher=Markets Media |date=January 2, 2015 |access-date=October 29, 2015}} Kx became a technology supplier to NASA's Frontier Development Lab.{{Cite news|url=https://www.irishtimes.com/business/technology/final-frontier-first-derivatives-selected-for-nasa-project-1.3560108|title = Final frontier: First Derivatives selected for NASA project| newspaper=The Irish Times }} In July 2018, FD Technologies bought all remaining shares in KX Systems that it did not already hold;{{Cite web|title=FD to buy out minority Kx Systems shareholders|url=https://fdtechnologies.com/news/fd-to-buy-out-minority-kx-systems-shareholders/|access-date=2021-10-22|website=FD Technologies plc|language=en-US}} Whitney and Lustgarten then went on to found Shakti.{{Cite web|title=shakti|url=https://shakti.com/|access-date=2021-10-22|website=shakti.com}}{{Cite web |last=Butcher |first=Sarah |date=27 November 2019 |title=The new data platform from the reclusive genius of banking IT |url=https://www.efinancialcareers.co.uk/news/2019/11/shakti-arthur-whitney |access-date=2021-10-22 |website=eFinancialCareers |language=en}}
References
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