KX Systems plans on setting up sales and R&D operations in Bangalore and Mumbai as well as enter the India market.

According to chief executive Ashok Reddy, the company hopes to take advantage of the country's estimated $4.2 billion artificial intelligence market by 2030 by targeting Indian developers, IT companies, and other businesses.

KX Systems is a fully owned subsidiary of FD Technologies, which is listed on the LSE. The UK- and New York-based company stated that 50 new employment would be added in India during the initial phase of expansion within the next several months.

“KX started off helping customers on Wall Street about 20-25 years ago to aid in big data- and real-time data-based testing to make investment strategies to beat the market. Though it started off as a programming model for Wall Street, now we are also doing it for aerospace and defence (and) life sciences. Many of the top 30-40 biggest investment banks and hedge funds globally use KX,” Reddy said.

Among the clients of the business are JP Morgan, Morgan Stanley, UBS, and Lockheed Martin.

High-frequency trading frequently uses the company's unique kdb+ technology to quickly analyze and process enormous data sets. It has also been applied to various time-sensitive data applications in the fields of defense, telecommunications, and network utilization monitoring for machines and computers. It is used by Formula 1 racing teams for in-the-moment data analysis.

The business has released kdb.AI, a cloud-based application that creates internal searches using unstructured data from sources like tweets, brokerage reports, news articles, and company reports.

In comparison to competing analytics solutions, the company claims its technology is faster and as inexpensive as one-tenth of the cost.

KX stated that it will be looking for positions in sales, pre-sales, and client onboarding. Additionally, it intends to establish a technical team in India for R&D projects and use case development.

The business's yearly revenue surpassed $100 million in the year that ended in February 2023, and it expects 35 percent growth in the current fiscal year. 360 million pounds of revenue were recorded by parent company FD Technologies for the same time frame.