Chicago-based Trading Technologies International, Inc., a global provider of high-performance trading solutions, today announced that it has acquired Neurensic, a regtech artificial intelligence startup headquartered in the same city.
Founded in 2015, the startup is best known for its SCORE surveillance platform which is capable of identifying complex patterns in trading behaviour on a vast scale across multiple markets.
Neurensic has experienced significant traction through its compliance solutions, powered by a cloud-based machine learning architecture, in which it provided surveillance technology for various market participants including exchanges, proprietary trading firms and regulators. These relationships have led to recent engagements with larger futures commission merchants and institutional customers, including broker-dealers and global banks.
TT’s acquisition of Neurensic will allow the company to offer its clients base AI solutions that no other professional trading platform has offered before, TT’s CFO claims.
Additionally, the integrated product provides TT the opportunity to expand its traditional platform to address the growing technology challenges facing compliance departments. One goal of this deal is to reduce the regulatory risk to the firm’s clients.
Commenting on the deal, Rick Lane, CEO of Trading Technologies, said: “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.”
David Widerhorn, founder and CEO of Neurensic, added: “We are thrilled to become a part of Trading Technologies and are confident they will take our groundbreaking technology to the next level. 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 helps even more traders leverage what we feel is the top AI technology in trading compliance.”