Los Gatos, CA & New York, NY, March 7, 2005 â Vhayu Technologies Corp. announced today that it has received a key patent for a real-time financial search engine that retrieves financial updates in real time.
Patent No. 6,850,906, "Real-time financial search engine and method," issued last month by the U.S. Patent and Trademark Office covers technology developed by Vhayuâs co-founders, Tejpal Chadha and Kenneth Williams. Vhayu Velocityâ¢, the firmâs market data analysis platform utilizes this patented technology currently deployed by investment banks, brokerages and hedge funds in New York, London and Tokyo.
"This patent is a credit to Vhayu's technological vision that continues to drive us to service the needs of our customers," said Jeffrey Hudson, CEO at Vhayu. "Our patented search technology is a critical component of our ability to capture, store and analyze tens of millions of simultaneous market data records in mere milliseconds. Our enterprise software helps high-volume traders tackle the increasing challenges of managing massive amounts of market data generated by tighter agency regulations, decimalization and market fragmentation."
Vhayu's technology platform enables investment banks, prime brokers, hedge funds, online discount brokers and alternative equity and fixed income trading systems to develop applications that require a high-frequency data store for pre-trade analysis, market sweeping for best execution, real-time compliance, storing and analyzing the entire depth-of-book, building and testing complex algorithmic trading strategies and transaction cost analysis (TCA).
According to the Patent Officeâs invention summary, "The invention provides a real-time financial search engine in retrieving financial information in real time. A condensation memory in the real-time financial search engine stores financial data in compacted space that allows computation of a reduced set of numbers. The result produces a sub-second response time in providing real-time financial data to institutional or individual investors."