DataGenic provides data management solutions to the commodities trading and other industries. Founded in 2002, the company has been led by CEO, Richard Quigley, since mid-2007 and he has helped transform DataGenic into an industry-leading software services company located in three countries. I chatted with Mr. Quigley recently about the company, where it stands and what its vision for the future is.
DataGenic now has more than 60 staff and offices in the UK, Spain and Asia from which to leverage its data management expertise into the commodities trading industry.
DataGenic has had a good year growing its revenues 75% over the previous year and solidifying its lead in the European market in adding seven new clients. Richard points to the fact that DataGenic is simply ‘very good’ at data management in building its leading position in Europe and, based on its European success, it is targeting growth in North America and other markets. Earlier this year, it opened a new office in Spain to support its Iberian client base better.
The basis for its success is Genic DataManager, which offers the next generation of architectural flexibility for managing all types of data. It is an integrated, model-driven and flexible software platform that adapts to business requirements allowing access to the full range of critical business information and complex analytics. It encompasses end-to-end data management processes and workflow, offering comprehensive data management capabilities – including data acquisition, normalisation, validation, source consolidation, cleansing, derivations and distribution – whilst ensuring maximum automation and manual intervention. Additional options include Genic CurveBuilder for the construction, derivation and management of forward curves using a rules-based expert system, Genic WorkFlow for the automation, management and monitoring of all business processes and Genic QualityManager for the automation of simple to complex data validations and data derivations. If that wasn’t enough, DataGenic also aggregate and distribute hundreds of data sources, from the smallest provincial sources to the world’s leading exchanges, brokers, assessment providers.
DataGenic continues to innovate and build on the platform. It introduced 2 new products last year;
• Genic DataIQ is an advanced analytical, reporting and visualisation tool, utilising the latest innovations in web technology.
• Genic LiveConnect is a high volume/high frequency data capture engine, utilizing a highly distributed architecture allowing for live data flows and large datasets, such as ISO’s, supply and generation, Trades, Orders, etc. in real-time. Two clients have already gone live with the solution and DataGenic expects more success with this product.
Not content with this, DataGenic are constantly exploring different needs in the industry to see how their products and tools can be utilized to help their clients further with a particular emphasis on curve data and curve management.
Richard expects the regulatory environment in Europe to have a profound impact on the marketplace and the requirement for accurate and timely price curves. The regulations may require a re-working of the mark-to-market process, including the market inputs, forward curve compilations, data validation, transactional reference, data retention and revised risk management practices, as well as a review of their stewardship and management. DataGenic see the need to deliver cost effective curve management tools and services to help support clients under these regulations and this will certainly be an area of focus for the future as the company continues to grow.
