Firm58 Racks Up Record Growth in 2007
Capital Markets organizations are embracing on-demand post-trade management software.
CHICAGO, March 3, 2008 — Firm58 (https://www.firm58.com), a leading SaaS provider for Capital Markets companies, announced they have logged record growth of 366% in revenue in 2007, and that December was also a record month for installations. Firm58 is entering 2008 with another 207% increase revenue locked in through existing contracts alone.
“It appears we are addressing areas of great interest and need for our clients. I haven’t talked to one organization that is satisfied with their post-trade management systems. They are embracing our easy to deploy, cost effective, and proven solutions for post trade transaction management. Our solutions make rapid scaling, revenue enhancement and cost management complimentary, and are finally helping clients evolve the back-office to meet the needs of the major changes in the front-office,” commented Curt J. Witte, CEO and President of Firm58.
Trading firms, broker/dealer(s), market places and prime brokers can all benefit by leveraging Firm58’s services to optimize critical operations and drive customer acquisition and retention, while simultaneously minimizing cost. Faced with increased competition, rising costs and aging technology, financial companies stand to benefit from Firm58’s software solutions by merging all post-trade activities to one asset-independent web-based platform.
With deployments at some of the world’s leading proprietary trading firms, day-trading firms and financial exchanges, Firm58 intends to continue to invest in augmenting its existing offerings, and scaling the business to meet the needs of its growing list of clients, extending its leadership position as an on- demand technology provider to the capital markets.
About Firm58, Inc.
Based in Chicago, Firm58 offers on-demand post-trade management software solutions to manage critical operations such as position management, billing, reconciliation, payment, fees and commission calculations, in addition to customer, financial and operational analytics. By automating all post-trade processes regardless of asset class (equities, foreign exchange, fixed income, futures, etc), Firm58 enables organizations to increase revenues while simultaneously reducing costs.