NEW YORK--(International Securities Exchange (ISE) and Hanweck Associates, LLC, a premier financial-services provider specializing in high-performance risk management and trading solutions for institutional investors, announced today that ISE has made a strategic investment in Hanweck Associates.)--The
“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”
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.
“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 Chief Executive Officer of ISE. “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.”
“As options trading volume and quote traffic continues to surge, conventional market data systems are struggling to keep pace,” explained Gerald A. Hanweck, Jr., PhD, Chief Executive Officer of Hanweck Associates. “Hanweck Associates already delivers advanced technologies, including graphics processing unit (GPU)-based computing, to options market participants today. The support of ISE, with its history of excellence in electronic options trading, will undoubtedly help us broaden our reach and take these applications to an entirely new level of performance.”
The investment follows a successful year 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 Associates also released Options Volatility Service™, an historical, end-of-day options and analytics database service. Hanweck Associates 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.
Hanweck Associates’ VoleraFEED™ currently delivers real-time, low-latency implied volatilities and Greeks to ISE’s front-end options trading application, PrecISE Trade®. Built upon the company’s Volera™ high-performance, GPU-based options analytics engine, VoleraFEED™ delivers real-time implied volatilities and Greeks on the entire U.S. OPRA universe with latency measured in milliseconds. The Volera engine can perform tens of millions of options valuations per second – 30 times faster than conventional CPU-based systems. Volera’s innovative technology can reduce operational costs by 90 percent, and easily scales to meet ever-increasing OPRA message rates.
The International Securities Exchange (ISE) operates a leading U.S. options exchange and offers options trading on over 2,000 underlying equity, ETF, index, and FX products. As the first all-electronic options exchange in the U.S., ISE transformed the options industry by creating efficient markets through innovative market structure and technology. Regulated by the Securities and Exchange Commission (SEC) and a member-owner of The Options Clearing Corporation (OCC), ISE provides investors with a transparent marketplace for price and liquidity discovery on centrally cleared options products. ISE continues to expand its marketplace through the ongoing development of enhanced trading functionality, new products, and market data services. As a complement to its options business, ISE has expanded its reach into multiple asset classes through strategic investments in financial marketplaces that foster technology innovation and market efficiency. Through minority investments, ISE participates in the securities lending and equities markets. ISE also licenses its proprietary Longitude technology for trading in event-driven derivatives markets.
ISE is a wholly owned subsidiary of Eurex, a leading global derivatives exchange. Eurex itself is jointly operated by Deutsche Börse AG (Ticker: DB1) and SIX Swiss Exchange AG. Together, Eurex and ISE are the global market leader in individual equity and equity index derivatives. For more information, visit www.ise.com.
About Hanweck Associates, LLC
Hanweck Associates, LLC, provides high-performance risk management and trading solutions for institutional investors. As an established leader in high-performance financial computing, Hanweck Associates pioneered commercial GPU-based computing solutions for the financial industry with cutting-edge products such as the Volera™ options analytics engine. The Hanweck Associates’ team of seasoned traders, strategists, researchers, developers and mathematicians unites decades of hands-on expertise in financial markets and technology services at major financial institutions with experience spanning all major asset classes and markets. For more information, please visit www.hanweckassoc.com.
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