Alphacet, a developer of innovative software solutions for quantitative analysts, portfolio managers and traders, today announced that hedge fund Tesseract Capital has selected Alphacet Discovery, the only straight through processing (STP) solution for quantitative strategy development and deployment, as one of its alpha research and generation platforms.
Founded in 2008 by industry heavyweight Michael Graves, who has previously led quantitative trading teams at Credit Suisse and Swiss Re, Tesseract Capital is a multi-asset class, quantitative hedge fund which will leverage Discovery company-wide for the development of financial models and strategies.
"At Tesseract, we understand that to develop effective strategies, one requires a variety of rapid R&D modeling solutions," said Michael Graves, founder and principal of Tesseract Capital. "Alphacet Discovery delivers an added flexibility and functionality we need to compete with leading funds without a lengthy or costly integration."
Tesseract chose Discovery for its innovative workflow that enables users to build, backtest, walk forward and deploy financial models on one fully integrated, multi-asset class platform - reducing strategy time to market from 13-26 weeks to one to four weeks.
"In today's dynamic financial markets, institutions must be able to develop, modify and deploy strategies rapidly to capitalize on ever changing opportunities," said Peter Sibirzeff, chief executive officer for Alphacet. "We are excited that Tesseract Capital has chosen Discovery to increase workflow efficiency, alpha generation and overall profitability."