Alphacet, Inc., a developer of innovative software solutions for quantitative analysts, traders and portfolio managers, announced today that it has completed an initial round of financing by private investors, including Boston-based Saturn Venture Capital.
The company plans to launch its flagship product—Alphacet Discovery—in the second quarter of 2008. Alphacet Discovery is a standalone codeless solution for high-speed quantitative strategy development and deployment.
The product has been in development and testing for more than four years.
"With the successful completion of this major financing round, Alphacet is well positioned for the forthcoming launch of Alphacet Discovery," said Peter Sibirzeff, Chief Executive Officer of Alphacet. "Alphacet Discovery is a breakthrough solution that gives quants the ability to construct, test, walk forward, refine and implement strategies at dramatically faster speeds, with zero coding and with remarkable ease."
Alphacet Discovery on average reduces the time to market for strategy-generation and production from 13 to 26 weeks using conventional methods to as little as one to four weeks.
Dr. William Guttman, Chairman of Alphacet and a Special Partner at Saturn Venture Capital, said, "We believe this tool will change fundamentally the way many quants work, and improve their investment performance in the process. In terms of power, flexibility, speed and ease of use, Alphacet Discovery represents an enormous leap beyond anything else in the market today."
Key features of Alphacet Discovery include:
- Integrates real time, static and historical data from major market data vendors, exchanges and client-proprietary sources;
- Multi-asset class, multi frequency, multi-instrument type capable; build any kind of model for any kind of instrument;
- Complete transparency with high-speed object-oriented visualization tools;
- Pre-configured quantitative, technical and statistical components for building all major strategy types—no additional programming or coding required;
- Complex multi-layer models can be created, backtested, and risk/reward measured in hours/days instead of weeks/months;
- Unique drag-and-drop GUI speeds strategy construction and iteration; and,nd,
- Includes real-time machine-learning routines for creating adaptive strategies.
Alphacet Discovery's seven categories of quantitative tools and algorithms for statistical arbitrage cover technical analysis; fundamental factor analysis; principal components analysis; machine-learning algorithms; econometric time series analysis; wavelets; and digital news processing.
By seamlessly connecting with leading market data vendors and market database partners, Alphacet Discovery provides advanced code-less financial modeling tools that allow "on the fly" programming, backtesting, walk forward and capability to push live—all through a revolutionary drag & drop interface.
Over the next several months, the company expects to make a number of announcements regarding industry partnerships, beta tests, trial offerings and staff appointments.