John Ridley, the former technical director of Misys Securities Trading Systems, has resurfaced as managing director of Simultia, a self-funded software start-up that is initially targetting the back office exception processing space.
As technical director at Misys Securities Trading Systems, Ridley had responsibility for up to 220 staff, developing trading and settlement applications. He quit the job three months after the November 2003 acquisition of the unit by GL Trade to set up five-person Simultia.
He says the new business will aim to apply the latest .Net and Java technology to deliver customised solutions "in the rapid timescales that today's clients are demanding".
Simultia is currently building prototypes of its first applications in the field of order flow and exception monitoring and control. Ridley claims to have a number of potential clients lined up and hopes to have signed a first beta test site by the Summer.
He is joined at Simultia by another former Misys staffer Andrew Kendall, who has signed on as the start-up's development director.