Algorithmics has announced that it is to utilise the Delta Reference Data Factory from software consultancy service First Derivatives.

Under the terms of the deal, Algorithmics will use Delta Reference Data Factory as the reference data engine with its risk management systems. Delta is First Derivatives' suite of capital markets software, with the factory an open platform for managing reference data with off-the-shelf and configurable feed handlers, data model/transformation engine and distribution/enrichment suite.

Algorithmics' president and COO Michael Zerbs said: “We conducted a thorough proof of concept with Delta Reference Data Factory. It exceeded our expectations and we are very pleased to have found a solution and a firm that meets our requirements so well. We are looking forward to working with First Derivatives.”

Dale Richards, president of U.S. operations at First Derivatives, said: “We are delighted to announce this deal for Delta Reference Data Factory. Algorithmics' selection of Delta is a strong endorsement and demonstrates the value of our proven capabilities and open architecture.”