FutureTrade closes $12.5 million financing
21 July 2003 | 2737 views | 0
FutureTrade Technologies, a California-based provider of electronic trading tools and services to institutional traders, has closed a $12.5 million series C funding round led by Menlo Ventures.
The FutureTrade platform combines real time market data, news, and order entry together with portfolio and risk management. Concurrently, the platform enables trading on multiple venues, providing a real-time connection with prime brokers, clearing agents and portfolio and order management systems.
The platform was rolled out to hedge funds and asset managers in January 2002. Since then the vendor claims to have signed up over 50 institutional investors as clients.
FutureTrade will use the funding to expand its sales channels while continuing product development.
Doug Carlisle, managing director, Menlo Ventures, says the vendor has made tremendous progress during the past year: "FutureTrade's technology leadership and focus on systems integration provide the differentiation that makes its platform a compelling solution in the market."