UBS takes stake in HFT tech outfit Mantara
15 September 2010 | 8757 views | 0
Mantara, a high-frequency trading technology provider, says it has received an unspecified strategic equity investment from UBS.
The New Jersey-based tech vendor's expressWay suite offers buy and sell side institutions low-latency trading technology and risk management capabilities.
Last May it closed a $7.6 million series c funding round led by MDV, Southern Cross Venture Partners, CM Capital and Allen & Buckeridge.
The UBS investment comes just a week after TradingScreen veteran Michael Chin took over as president and chief executive, vowing to "capitalise on the company's significant growth opportunities".
Charlie Susi, head, direct execution, Americas, UBS, says: "As we examined the landscape of low-latency trading and risk management technology solutions, Mantara stands out as a fully-integrated, multi-broker, multi-asset system built from the ground up with state-of-the-art capabilities and a smart co-location footprint."