KRM22 PLC (LON:KRM) has announced two new customer contracts for two recently acquired businesses, Irisium and ProOpticus, expanding its Global Risk Platform.
The technology and software investment company that focuses on risk management for capital markets said Irisium will provide its market monitoring and analytics application to Bitstamp, the largest cryptocurrency exchange by trading volume in Europe.
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Bitstamp – which is one of four cryptocurrency exchanges that have provided pricing data for the Chicago Mercantile Exchange's cryptocurrency indices since 2016 - will use Irisium to monitor market activity, as they continue to increase transparency, integrity and confidence in the cryptocurrency market.
Meanwhile, KRM22 added, ProOpticus' real-time post-trade portfolio risk management application will be provided to a large Futures Commission Merchant based in the Midwestern United States.
No financial details of the contracts were revealed. KRM22 acquired 60% of Irisium on 4 June 2018 and purchased ProOpticus on 25 September 2018.
Keith Todd, KRM22’s executive chairman and chief executive commented: "I am delighted that these two customer contracts for Irisium and ProOpticus show further validation to the approach we are taking and the growing need for risk management software in all sectors of capital markets."
In a note to clients, analysts at ‘house’ broker finnCap commented: “These contracts represent the growing recognition of KRM22 as a risk management specialist within the capital markets industry and its position to serve the increasing need of risk management applications among this sector.
“We look forward to further news flow as the Company continues to make progress within the industry, and in the development of its risk management platform.”
In mid-morning trading, KRM22 shares held steady at 106p.
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