In conjunction with being named a RiskTech100 2018 RisingStar, Beacon was profiled in the Chartis Research RiskTech100® Winners' Review, produced in collaboration with Risk.net.
"Beacon offers an open, institutional platform for analytics and quantitative modeling, enabling institutions to build scalable and structured frameworks using their own analytical components and those of third parties."
- Chartis Research
Rising Star: Beacon Platform
With its founders’ track record of building open-source cross-asset trading and risk management platforms from the ground up for Goldman Sachs, JP Morgan and Bank of America, the launch of Beacon three years ago was, and continues to be, exciting news. Named a RiskTech100® Rising Star, Beacon is making a mark with its cutting-edge enterprise technology platform and trading and risk management system for institutional clients in financial services.
Michael Kirch, Chief Commercial Officer at Beacon, says founders Kirat Singh and Mark Higgins’ backgrounds building Goldman Sachs’ much talked-about SecDB, JP Morgan’s Athena and Bank of America’s Quartz means Beacon has unique experience in award-winning in-house trading and risk management platforms.
Beacon takes many of the same concepts and delivers open, transparent trading and risk management software to multiple clients. “This platform can dramatically boost the productivity and impact on client in-house development teams, so they can do more with a smaller team,” says Kirch, who adds that it is about providing cost-efficiency and improving scalability and value-add by, for example, allowing quants to achieve more in a shorter time frame.
The Beacon offering comprises the Beacon Core developer platform and Beacon trading and risk management applications — with fully transparent source code — that run on top of Beacon Core. Beacon has enjoyed rapid growth as a result, landing clients across insurance, investment banks, large and small hedge funds, asset managers and commodity traders. “It’s an extremely diverse client mix within the financial services industry, which speaks to the universal applicability of this technology,” says Kirch.
The next step is leveraging growth opportunities in all of these areas, according to Kirch, while continuing to work on refining the platform. Most recently, Beacon has responded to client demand for more data science and analytics support, and adapted the originally cloud-based platform to allow for local and hybrid installations. “We’re currently in the process of rolling out the next generation of our application development framework, which makes it even easier for developers to build, deploy and support fully finished end-user applications in the platform,” says Kirch.
In addition, Beacon is rolling out a comprehensive suite of end-user applications, including through a partnership with Japan-headquartered financial services technology firm Simplex, which involves building a next-generation trading and risk management platform code, GenesisEIP, in the Beacon App store.