Founded by Toli Kuznets and Graham Miller, veterans of the software and trading technology industries, Marketcetera is using open source software and methodologies to give financial institutions an alternative to expensive, monolithic proprietary trading systems. The company's comprehensive software platform enables financial services firms of any size to build effective algorithmic trading systems, develop proprietary algorithms, create order management solutions and manage risk, in order to gain competitive advantage.
âOpen source software has marched across a number of industries, disrupting the legacy profits of proprietary vendors,â said Ravi Mohan, managing director, Shasta Ventures. âOur investment will help Marketcetera provide trading firms a low cost scalable solution that better meets their needs than the expensive proprietary, trading platforms that they currently have access to. Marketceteraâs platform powers algorithmic trading and experts in the industry predict that 50-60% of total trading will be done by algorithms by the end of the decade.â
Mohan and Selby will both join Marketceteraâs board of directors.
âThe $500 billion under management in high-frequency quantitative strategies will only expand as the speed of the capital markets accelerates. Increasingly traders and portfolio managers need the flexibility, throughput and power of open source software because of the advantages it provides over closed solutions,â said Graham Miller, CEO, Marketcetera. âWeâre honored to have a firm with the reputation of Shasta Ventures recognize the business weâve built and the opportunity we have to change this market.â