Our Mission & History
Headquartered in Chicago, Firm58 is backed by Pritzker Group Venture Capital and North Bridge Venture Partners. We specialize in equipping industry-leading broker dealers, execution venues and exchanges, and trading firms with advanced back-office automation solutions for capital markets.
The Need for Reliable, Back-Office Automation Solutions for Capital Markets
The Firm58 story began when our founders recognized a serious gap in the technology that capital markets firms use to manage their post-trade requirements. The growth of electronic communication networks (ECNs) increased trade volume and complexity—a development that presented new challenges for manual and outdated middle- and back-office systems.
However, capital markets firms continued to focus on streamlining front-office systems, exacerbating the critical operational challenges that occur post-trade. Since it was clear that these challenges would become more and more complex, Firm58 was launched to provide broker dealer software and SaaS-based capital markets solutions that help firms improve efficiency, profitability and compliance in the back office.
Why Are We Called Firm58?
UPDATE: On August 7, 2016 PGA Golfer Jim Furyk achieved the formerly unachievable and shot a 58 at the Travelers Championship: the first time ever in the 86 year history of the PGA. Though he has achieved this previously impossible goal, Firm”58″ remains as committed and aspirational as ever to deliver quality products and services to the capital markets industry. In fact, inspired by this event, we’re more focused than ever in achieving our own success. We congratulate Mr. Furyk on his amazing accomplishment and look forward to him or another PGA golfer breaking this new record. And, yes, the company name will remain “Firm58“!
Redefining middle- and back-office processes isn’t the only thing our co-founders are passionate about. Inspired by the challenge of their favorite sport, our co-founders named the company Firm58 based on a golf score that has never been shot on the PGA tour (the record is 59).
Firm58 seemed like a fitting name for our company because like PGA players, we’re motivated by the challenge of taking our game to the next level. Firm58 represents aspiration and dedication, and we strive to exceed expectations in everything we do.
From revenue management and billing to profit analysis and compliance, we continue to outperform our clients’ expectations with elegant, sell-side back office solutions that deliver measurable business results.