Following the acquisition of DET Tech by Rapid Addition last October, the London-based trading technology developer today announced the completion of integrating DET Tech into its business, and unveiled two enhanced product lines including RA Hub and RA Monitor, and announced key staff appointments.
The newly combined services are aimed at etrading performance, and leverage Rapid Addition’s Financial Information Exchange (FIX) engine as well as Field-Programmable Gate Array (FPGA) technology, along with the flexibility of the DET Hub integrated solution.
According to the press, RA Hub and RA Monitor are two of the new solutions that are aimed towards exchanges, banks, brokers, and the fund management industry, as well as high frequency traders (HFT).
RA Hub builds on the established RA Cheetah FIX Engine, and gives a way for users to access real-time monitoring and visual configuration tools within the application interface. RA Monitor helps clients with monitoring their obligations under MiFID II, and can be used either as a stand-alone product or integrate into the RA Hub.
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DET Tech founders Petr Postulka and Jaromir Satanek join the combined technology teams, along with Fahiem Rahim, and will head the product development team in Prague, according to the update.
The company also said that Maria Netley and Darren Batsford have both joined its sales team. Mrs. Netley brings extensive experience in futures and equities including in algorithmic trading and connectivity sales, with prior positions at RBS, Credit Suisse, UBS, and LSE. According to information on LinkedIn, Mrs. Netley was most recently at Zeopold Consulting, where she held roles as co-chair of the European regional committee of FIX Protocol with a focus in Europe.
Mr. Batsford joins from Squawker after having successfully launched a convertible bond block and equity trading platform for sell-side regional brokers, investment banks, market-makers and proprietary trading firms. According to a LinkedIn profile description, Mr. Batsford has been with Rapid Addition since the start of 2016.
Rapid Addition Chairman Kevin Houstoun commented in the press release: “The new platform we have developed with the DET Tech team makes life much easier for operations and trading teams. We’re really excited about the momentum we are building with the integration of Petr and Jaromir’s knowledge and experience, and we are better positioned than ever before to meet the needs of the financial industry and continue our exceptional growth. Our expanded sales team are looking forward to engaging the industry and working with our many friends in the etrading community.”