ISE Makes Minority Investment in Hanweck Associates
The International Securities Exchange (ISE) has made a strategic investment in , a financial services firm that has expertise in high performance risk management, options analytics and low-latency market data, through the use of graphical processing units (GPUs).
Details on the size of the investment were not disclosed in today's announcement.
ISE's minority investment will help Hanweck Associates support further product development, expand its sales and technical support teams and meet the increasing market demand for real-time options analytics as the options industry continues to grow, said the release.
"We believe that Hanweck Associates' cutting-edge technology for real-time options analytics is groundbreaking for the financial industry, and we are excited to partner with them as they expand their risk management and financial analytics tools for the options market and other financial sectors," said Gary Katz, president and CEO of ISE, in the release. "As an industry leader in high-performance, low-latency computing technology for options market data, we also look forward to collaborating with Hanweck Associates to enhance ISE's suite of market data product offerings," further stated Katz.
Gerald A. Hanweck, Jr., PhD., CEO of Hanweck Associates, commented, "As options trading volume and quote traffic continues to surge, conventional market data systems are struggling to keep pace. Hanweck Associates delivers advanced technologies, including graphical processing unit(GPU)-based computing to options market participants," he explained. Hanweck said the support of ISE, a leader in electronic options trading, "will undoubtedly help us broaden our reach and take these applications to an entirely new level of performance."
The investment from ISE follows a year of successful projects for Hanweck Associates, which saw the expansion of its real-time low-latency options analytics feed, VoleraFEED, to vendor platforms including ACTIV Financial, Interactive Data and SpryWare. In partnership with Interactive Data, Hanweck released Options Volatility Service, historical, end-of-day options and analytics database service. The firm continues to push the envelope in high performance computing with the release of its VoleraAPI , which opens the power of the Volera GPU-based engine to financial engineers and developers.
Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio
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