QuantHouse, a provider of low latency market data systems, has acquired the software products of SmartQuant, which enable traders to develop, back test, simulate and execute program trading strategies.
The SmartQuant technology enables analysts and traders to capture high-frequency financial data and automate their own quantitative trading strategies over multiple asset classes. The framework has been under development since 1997 and claims 60 clients globally.
The company was set up in St Petersburgh, Russia, in 2003 by Anton Fokin, who was a trade and risk analyst in the quantitative strategies group of the global securities lending and arbitrage division of Fortis Bank.
Quant House says the technology will be re-branded QuantFactory and combined with its low latency market data systems.
Stéphane Leroy, head of global sales and marketing at QuantHouse, says: "This strategic move is also clearly the answer to a growing number of clients requesting leading edge solutions to shorten the time from an initial trading model idea to the moment it's live on the market.
"With QuantFactory suite of products, our clients will optimise their development cycle going through research, development, back testing and execution phases much more rapidly and efficiently."
The main founders of QuantHouse are former quant developers and IT advisors of a London based arbitrage hedge fund. Pierre-François Filet, CEO and founder of Quant House, says the acquisition is part of a vision to build a complete end-to-end program trading package.