LatentZero Signs Up Eight Top Companies For Algorithmic Trading
London, 9th December 2004 - LatentZero, the leading provider of buy-side front office technology for global asset management, has teamed up with eight major brokers to provide access to their global algorithmic trading platforms for users of Minerva, its order management system.
The brokers are: Bank of America Securities, Citigroup, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs Algorithmic Trading, Lehman Brothers, Sanford Bernstein and UBS.
This means that users of the latest version of Minerva can take full advantage of the best low-cost, high transparency electronic execution services available on the market.
As well as providing direct access and algorithmic trading using the FIX protocol, Minerva version 3.5.1 will continue to offer all the current product benefits including 24X7 cross-asset order management and trading capabilities and real-time market data integration on trading blotters.
"This agreement with eight leading firms clearly puts Minerva on the map as the first choice system for algorithmic trading," said Dan Watkins, LatentZero's CEO, North America. "One of the reasons for this is that we have separated our support for new algorithms from our main Minerva development operation. The algorithms are soft-coded, which means new ones can be provided as they are needed. Once users have this latest version of Minerva, new algorithms can be integrated without the need for a software upgrade."
He added: "This is particularly important given the huge growth in algorithmic trading we are likely to see over the next year. Algorithms change extremely quickly and buy-side managers cannot afford to wait for system upgrades every time they want to add in new ones."
This latest development with Minerva is part of LatentZero's drive towards complete execution management automation.
Minerva is part of Capstone, LatentZero's complete front office suite. Other elements of Capstone include: Tesseract, a decision support and order generation solution; and Sentinel, LatentZero's pre- and post-trade compliance product.
Founded in 1999, LatentZero is headquartered in London and Boston and has offices in New York, Paris, Frankfurt and a presence in both Hong Kong and Singapore. LatentZero's products are used by five of world's top ten asset management companies. There are more than 2,500 LatentZero users worldwide managing in excess of $5.3 trillion AUM.
LatentZero is a global technology firm that specializes in developing complete front-office solutions for the buy-side community. It recently took 76th position in the Sunday Times Tech Track 100, a list of the fastest growing technology companies in the UK. LatentZero's suite of products, known collectively as Capstone, is used by six of the world's top 10 asset management organisations. More than 2,500 portfolio mangers, traders and compliance officers worldwide rely on Capstone to manage assets in excess of $5.3 trillion.
Capstone is comprised of three products which can be implemented either separately or together as a complete solution. The Capstone components are: Tesseract, a decision support and order generation application; Minerva for order management and trading; and Sentinel for pre and post trade compliance management.
LatentZero's technology is built to meet precise business needs. The technical architecture which underpins all the Capstone products works seamlessly with any other front, middle or back-office technology. It provides a 24x7 high performance solution that is scaleable, flexible and easily integrated with legacy systems.