IEX Partners with Verdande Technology to Launch Predictive Analytics to Protect Investors

Early warning system for market impacting events

NEW YORK--()--Verdande Technology, a provider of real-time Case-Based Reasoning (CBR) technology, today announced IEX, a new U.S. equities trading venue, is using its VTEdge platform for operational surveillance of trading activity. Based on the principle that similar problems have similar solutions, CBR provides IEX with predictive analysis of potentially business and market impacting events, such as outages, before they happen, to make better real-time, evidence-based decisions.

As the paradigm shifts away from traditional monitoring tools, Verdande’s analytics solution will provide accurate, evidence-based information to make the smartest real-time decisions. Verdande Technology’s CBR-driven VTEdge platform identifies, captures, and analyzes unstructured data patterns in real-time, using past events to proactively predict future problems and manage unexpected situations by modeling “normal” behavior and running complex systems analysis and anomaly detection against that model to identify and prevent abnormal behavior. IEX will use Verdande Analytics as an early warning system across critical trading platforms to predict and prevent infrastructure glitches related to switches, routers, and network links as well as surveil orders, fill data, and market data.

“Given the complexity in today’s systems, we need to know how to recover from system failures. Verdande has brought to market a disruptive idea that has never truly been executed well: signal processing via Complex Event Processing (CEP) to understand patterns and deviations from the norm,” said Zoran Perkov, Head of Technology Operations at IEX. “Cause and effect is no longer a simple linear equation. Verdande allows for a proactive, real time analytics approach that can help inform a human of what possible decisions they can make to reduce the length of an outage. Our market is designed to protect the investor, and Verdande is an integral part of our technology toolkit.”

“CBR is about being able to use truly predictive technology to prevent or mitigate business impacting events; whether that means monetary loss or reputational exposure. In the financial services industry, that can be a challenge, as there are so many versions of normal and data is transmitted at such high speeds that it can be difficult to predict a failure with enough time to get ahead of the problem,” said Joanne Kinsella, CEO, Verdande Technology Financial Services. “We are thrilled to be working with a new and different trading venue like IEX that has put a forward-looking emphasis on technology to provide greater visibility into future risk with enough time to take action.”

About Verdande Technology

Verdande Technology AS was founded in 2004 and is headquartered in Trondheim, Norway, with regional offices in New York, Houston and Abu Dhabi, UAE. The company is privately funded through Investinor AS, ProVenture Management and Statoil Technology Invest.

Verdande Technology provides real-time decision management and surveillance solutions to enable organizations to minimize risk and make better, faster decisions by turning their data into actionable intelligence. Verdande Analytics is powered by Case-Based Reasoning (CBR) and is based on the principle that similar problems have similar solutions. A continuously learning system, Verdande Analytics maximizes big data performance by identifying, capturing and analyzing patterns in risk and operational data in real time. It uses past events to proactively predict future problems, rapidly diagnose and correct issues to drive business growth and efficiencies. www.verdandetechnology.com

About IEX

Dedicated to institutionalizing fairness in the markets, IEX provides a more balanced marketplace via simplified market structure design and cutting-edge technology. Launched October 25, 2013, IEX is an Alternative Trading System (ATS) offering a fair-access platform to any qualified broker dealer. IEX is driven by a team of cross-industry experts with backgrounds spanning market venues, electronic trading, and broker-dealers. IEX is the first equity trading venue owned exclusively by a consortium of buy-side investors, including mutual funds, hedge funds, and family offices.

Learn more at: www.iextrading.com

Contacts

Media
Articulate Communications Inc.
Diana Kearns-Manolatos, 212-255-0080, ext. 12
verdande@articulatecomms.com
or
IEX Marketing & Communications
Gerald Lam, 646-568-2358
gerald.lam@iextrading.com

Sharing

Contacts

Media
Articulate Communications Inc.
Diana Kearns-Manolatos, 212-255-0080, ext. 12
verdande@articulatecomms.com
or
IEX Marketing & Communications
Gerald Lam, 646-568-2358
gerald.lam@iextrading.com