Neurensic specialises in developing machine learning based software which markets participants, includers, traders, stock exchanges and market regulators, can use in real time to spot market related risks.
Chicago-based Trading Technologies International Inc, a trading software provider has disclosed that has acquired Neurensic LLC for an undisclosed amount.
Neurensic uses ai for market surveillance and compliance. Its product covers the entire gamut of market participants, stock exchanges and regulators to examine complex trading patterns to identify market related risks in real time.
The acquisition includes four of the company’s employees.
“Artificial intelligence and machine learning are rapidly altering the landscape of trading, and acquiring certain assets of Neurensic enables Trading Technologies to offer AI solutions that no other professional trading platform has offered before,” said Michael Kraines, Trading Technologies’ chief financial officer.
The deal underscores the trend of trading firms to increasingly lean on advanced technologies, including machine learning to not only filter through massive data sets but also to identify potential market manipulators.
Founded in 2015, Neurensic has helped regulators in their investigations of market-manipulations and has held talks with stock exchanges on supplying artificial intelligence software for surveillance.
In October 2016, Neurensic had launched a tool which creates an “integrity score” for traders based on their trading patterns which can later be compared with patterns templates that regulators deem as suspicious.