David Kelly, Moment Analytics' CEO, joins Quantifi as Director of Credit Product Development and will be based in the U.S. This is Quantifi's first acquisition. The terms of the transaction, which closed in October 2009, were not disclosed.

Rohan Douglas, CEO of Quantifi Inc, said, "Moment Analytics adds strong complementary expertise and technology to Quantifi in areas where we are seeing increasing client demand such as counterparty credit risk and credit valuation adjustment (CVA). By combining Moment Analytics' talent, products and expertise with Quantifi's already robust product offering, we are making key investments that will continue to reinforce our position as a market leader."

Moment Analytics provides trading and risk management infrastructure for buy- and sell-side institutions covering a variety of OTC and exchange-traded fixed income, foreign exchange, equity, commodity and credit products. Moments Analytics' clients include a top five investment bank, a $4bn top performing fixed income fund, a $700MM macro fixed income hedge fund, and a leading rating agency. Quantifi will integrate components of the Moment Analytics software into the firm's product suite and continue to support Moment Analytics' clients.

Mr. Kelly brings almost 20 years of experience as a trader, quant, and technologist to Quantifi. At Citigroup, he was the senior credit trader on the Global Portfolio Optimization desk, responsible for actively managing the credit risk in derivatives positions and establishing the CVA business. Prior to this, he ran Chase's Global Analytics group, where he was responsible for front-office pricing models and risk management tools for the global derivatives trading desks including the firm's first CVA system for active counterparty risk management and credit charging.

Mr. Kelly stated, "The recent financial crisis, particularly the increase in counterparty defaults, has led to a heightened focus on counterparty risks and the adoption of active counterparty risk management systems. Quantifi is uniquely positioned to advise clients on
best practice in this area. I look forward to bringing my experience to Quantifi and working with clients to deliver forward-thinking, strategic solutions."

Since the firm's inception, Quantifi has grown steadily, with over 120 clients across five international offices. Mr. Douglas notes, "The acquisition of Moment Analytics is a landmark in Quantifi's growth. We've grown tremendously since we first started and we look forward to continued success as we explore new opportunities and avenues for expansion."