Derivix

About Derivix

Established in 2005 by founder Michael Barrett Stern, Derivix operated as a financial services software company specializing in the derivatives market. The firm was headquartered in New York City and catered to a sophisticated client base that included options traders, sales traders, and hedge funds. Derivix provided an all-in-one software solution for options pricing, real-time analytics, and portfolio risk management. Its business model centered on delivering these institutional-strength tools to help financial professionals navigate the complexities of the electronic marketplace.

The company's product suite was designed for performance and flexibility. Key offerings included Derivix Analytics, a tool for interacting with derivatives markets, and Derivix Portfolio Risk, which gave users enhanced visibility and control over portfolio risk. The platform also featured multi-broker electronic execution capabilities. A core tenet of the company's strategy was its commitment to broker neutrality, which provided clients the flexibility to integrate the solutions within various business structures. In 2010, Derivix secured $6 million in a Series A funding round with participation from J.P. Morgan, among others.

A significant milestone in the company's history occurred in June 2012 when it was acquired by FlexTrade Systems, a provider of algorithmic trading platforms. The acquisition aimed to combine Derivix's expertise in portfolio risk management and scenario analysis with FlexTrade's multi-asset execution management system. Following the acquisition, the entire Derivix team joined FlexTrade, and its platform was integrated with FlexTrade's FlexOPT to create a more comprehensive options trading solution.