Hanweck Secures $10M Led By Argentum
Funds to Fuel Research & Development, Sales & Marketing, and Global Market Expansion
New York, NY – November 17, 2015 – Hanweck Associates LLC, a leading provider of high-performance real-time risk analytics to banks, broker-dealers, asset managers, exchanges and central counterparties, announced today it has secured $10 million in financing, comprised of debt and equity, led by Argentum, a New York-based private equity firm.
The capital enables Hanweck to intensify its investment in product innovation, sales and customer success, and to accelerate the company’s expansion in Europe and Asia. To that end, Hanweck recently announced the establishment of its European headquarters in Belfast, Northern Ireland.
In connection with the transaction, Peter Armstrong, Founder and former CEO of Triple Point Technology, and Walter Barandiaran, Co-Founder and Managing Partner of Argentum, have joined Hanweck’s Board of Directors.
“We are pleased to welcome Walter and Peter to our Board,” said Gerald Hanweck, Jr., Founder & CEO of Hanweck. “Argentum has a proven model for guiding their portfolio companies through accelerated growth to become leading players in their markets. Peter successfully built and grew Triple Point into a global commodity and risk management powerhouse, and brings a wealth of knowledge and experience to our team and our Board as demand for our risk management solutions grows.”
Micahel Hollingsworth, COO of Hanweck said “The regulatory landscape is forcing institutions toward central clearing while constraining capital, creating problems of computational scale for the industry. Hanweck’s real-time technology is well positioned to solve these problems.”
“Hanweck serves an impressive base of premier institutional customers in broad segments of the financial service industry including the buy side, sell side, clearing houses and central counterparties,” said Peter Armstrong. “We are excited by the prospects of Hanweck’s cutting-edge risk management technology – from real-time analytics to proprietary historical tick databases – that the company has brought to bear on today’s complex risk-management problems.”
“Since the 2008 global financial crisis, in an effort to comply with global regulations and enhance market and counterparty risk measurement and controls across the globe, central counterparties have emerged to mutualize the risk of OTC derivatives,” said Walter Barandiaran. “Hanweck’s technology solutions position them well to take advantage of these regulatory trends and drivers by delivering portfolio level analytics for central counterparty clearing organizations,” added Mr. Barandiaran.
“The Hanweck team has made great strides in building their business and delivering a robust and timely product to meet the evolving needs of the options industry. We are very excited for this next phase of the company’s growth that will now be accelerated by the investment from Argentum,” said Tom Ascher, Chief Strategy Officer at International Securities Exchange Holdings (ISE), an early strategic investor in Hanweck.
“We are pleased to join ISE as investors in Hanweck, and look forward to a collaborative partnership with ISE, assisting Jerry and his management team through this exciting growth phase,” said Mr. Barandiaran.
About Hanweck Associates
Hanweck Associates is a leading provider of high performance, low latency data and risk analytics to exchanges, banks, broker-dealers, market-makers, portfolio managers and central counterparties. Hanweck also delivers risk measurement solutions across a range of asset classes including fixed income products and derivatives. With its hardware-accelerated Volera™ analytic engine, Hanweck pioneered the use of graphics processing units (GPUs) in the financial industry. International Securities Exchange Holdings, Inc. is a strategic investor in Hanweck Associates. Please visit www.hanweckassoc.com.
Argentum is a New York-based growth equity firm that supports entrepreneurial owners in building industry-leading companies. The firm partners with management teams of companies with revenues of $5 million to $25 million to provide capital to accelerate growth, fund acquisitions or generate shareholder liquidity. Since raising its first fund in 1990, Argentum has invested in nearly 80 companies and supported more than 180 add-on acquisitions in technology, healthcare and other high growth service sectors. Learn more at www.argentumgroup.com.
About International Securities Exchange Holdings, Inc.
International Securities Exchange Holdings, Inc. (ISE Holdings) operates two U.S. options exchanges, International Securities Exchange, LLC (ISE) and ISE Gemini, LLC (ISE Gemini), and delivers a superior trading experience to its member firms through its market structure, industry-leading technology, unique functionality for trading complex orders, and award-winning customer service. As part of Eurex Group, ISE and ISE Gemini are combined with Eurex Exchange to form one of the largest transatlantic derivatives marketplaces, with daily trading volumes exceeding 9 million contracts across a growing range of asset classes. Eurex Group is owned by Deutsche Börse AG (Xetra: DB1). Please visit www.ise.com.