Trading Technologies’ acquires Neurensic for AI Regtech capabilities
Posted: 11 October 2017 | Source: Trading Technologies
Trading Technologies International, Inc. (TT), a global provider of high-performance professional trading software, today announced it has acquired Neurensic, LLC, an artificial intelligence (AI) regtech solution for trading, compliance, surveillance and banking. The terms of the transaction are not disclosed.
Founded in 2015, Neurensic has become the industry’s leading AI platform for identifying complex patterns of trading behavior at a vast scale, across multiple markets in near real time. The platform combines high-speed, big data processing power with machine learning technology, providing firms with a continuous assessment of the compliance risk associated with complex trading behaviors.
Rick Lane, CEO of Trading Technologies, commented, “We are pleased to acquire the Neurensic team and technology as it will help to further establish TT as the platform of choice for the buy and sell sides as they transition into today’s world of complex information systems and trade analysis. The ability to provide literal push-button access to advanced machine learning surveillance capabilities, with zero infrastructure investment and zero integration cost, will allow our partners to further benefit from the value of our platform and network.”
“Artificial intelligence and machine learning are rapidly altering the landscape of trading, and acquiring certain assets of Neurensic enables Trading Technologies to offer AI solutions that no other professional trading platform has offered before,” said Michael Kraines, TT’s Chief Financial Officer. “And this represents just the first of several pending solutions powered by this technology that we will offer to our clients on the TT platform.”
“We are thrilled to become a part of Trading Technologies and are confident they will take our groundbreaking technology to the next level,” said David Widerhorn, founder and CEO of Neurensic. He added, “This deal marks an important milestone in our mission to empower the industry with AI technology that is capable of understanding real-time data, and in doing so, supporting the industry in navigating the challenges in today’s dynamic regulatory environment.”
Paul Giedraitis, Neurensic’s COO and co-founder commented, “TT’s distribution network is second to none, and their clients are some of the world’s most respected and sophisticated firms, so we are excited to see how the integrated product helps even more traders leverage what we feel is the top AI technology in trading compliance.”