First Derivatives agrees Pivotal big data partnership

20th Mar 2014 12:57

Financial software provider First Derivatives has agreed to provide consulting services in a collaboration with Pivotal, one of the 'big names' in big data.Analysts at Panmure Gordon said: "This partnership represents more than just a significant revenue opportunity - it is a major rubber-stamping of both the value of the company's domain expertise and its big data credentials."FD said it would offer consulting services for the design and implementation of financial solutions in areas such as surveillance, risk management and trading using a Pivotal One platform. It will be available as a high capacity ingestion utility to those that can benefit from spikes in volume where data is usually lost or is not available in real time.No financial details were alluded to by the company, but house broker Charles Stanley said "this partnership and planned development path opens the company to rapid acceleration of sales in the software division". "In terms of analogy, First Derivatives will supply a wide on-ramp to the Hadoop computing platform. This is a high capacity and highly resilient real-time data model of computing which is comprised software defined storage, data sets (big data) low cost commodity hardware. It has already been adopted by the large technology leaders in the industry such as Yahoo and Facebook. More than half of Fortune 50 companies are in adoption stage."Shares in FDP were up 3.4% to 1,124.5p at 13:00 on Thursday.OH