Security APL offers the finest in portfolio management systems and service to the investment advisory, brokerage and banking industries. Through PORTVUE, clients are able to leverage their operations, trading and marketing. Security APL designs custom solutions with clients, allowing investment managers the kind of functionality that dramatically increases productivity. Security APL was founded in 1978 as a Sub-Chapter S Corporation in the state of Illinois. The two founders are Jay N. Whipple III (Jay3) and his father, Jay N. Whipple Jr. (Jay2).
Jay N Whipple III took off the first semester of his Junior year at Yale to develop a portfolio accounting system for the retail brokers at Bacon, Whipple & Co., a regional brokerage firm in Chicago, Illinois. Programming continued from afar when Jay3 returned to Yale for his second semester. He was often heard yelling at his father for not typing correctly: iota left bar right angle bar space transpose a. System development took a quantum leap when Jay3 acquired a terminal and could then program remotely from 11pm to 5am when the phone rates were lower.
The next generation of portfolio management software was prototyped by Jay2 during the late 60's on an IBM Call 360 main-frame timesharing environment. Development efforts came to an abrupt halt when the first month's bill was in excess of $20,000.00. The economics of a computerized solution had not yet arrived.
In 1960, the Olivetti typewriter company came out with a "portable" electronic calculator weighing close to 50 lbs. Since 1978, Security APL has run through a number of processing platforms including Digital and IBM mainframes, and finally settling on the RISC System/6000. Today, a total of 16 RS/6000 computers are distributed among the various offices.
Projected 94 Revenues: 15.5 million Actual 93 Revenues: 12 million (up 41% from '92) Cash Reserves: 3 million Capital Spending: 1.3 million Debt: NONE Net Income: Profitable the last 10 years.
