The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Cassovia Builds One Man Trading Firm on Xenomorph TimeScape Platform

Share article
Cassovia, a one man trading firm based in New Jersey that focuses on fundamental investment in equities, has implemented Xenomorph’s TimeScape analytics and data management system to handle data issues that no man could solve quickly and alone.

Frantisek Kovac, principal at Cassovia, worked at Deutsche Bank on the corporate credit desk before leaving and setting up Cassovia in the spring of 2009. Initially, he used a number of spreadsheets to manage, aggregate and analyse company fundamentals, end of day prices and credit default swap (CDS) data, but his previous experience of TimeScape at Deutsche Bank led him to implement the software in the summer of 2009.

“It is too difficult for a single person to put together everything that is needed to develop trading strategies. I needed an efficient solution for a one person shop. TimeScape was a good fit,” he says. “I have seen a lot of technology in the trading space and TimeScape is definitely above everything else in terms of speed and intuition. I can develop complex trading strategies in a few seconds and make good decisions quickly.”

Kovac is also impressed by the scope and ease of use of TimeScape. “While some trading firms use a data provider, build algos and have another provider for prices, TimeScape includes everything in one package. Back testing is an important element for me and it is easy to do as TimeScape’s database structure is user friendly, intuitive and requires a low level of programming skills. Once a strategy is developed, the software automatically delivers the data needed for the strategy.”

While Cassovia currently trades equities and equity options – trading is handled by TradeStation software – Kovac suggests he may, in future, move into foreign exchange or futures trading supported by the multi-asset facet of TimeScape and its scalability from one person organisations to large investment banks.

Essentially, the TimeScape platform allows Cassovia to store and retrieve its data and import data in different formats as well as numerous out-of-the-box financial analytics functions. Xenomorph’s Spreadsheet Inside technology, which the company has evolved since its foundation in 1995 when it worked with Bankers Trust to build a high performance time series database platform, enables Cassovia to run time series calculations, implement back testing strategies and build complex trading models in a centralised and flexible system.

These may be early days for Cassovia, but Kovac has high hopes of success supported by the two software planks he says he could not be without.

Related content

WEBINAR

Recorded Webinar: FRTB: The time to get your data in order is now

Fundamental Review of the Trading Book (FRTB) regulation requires firms within its scope to source significant amounts of data, some of which has not previously been required and is difficult to pin down. The data management challenges of the regulation’s Internal Model Approach (IMA) to market risk capital calculations include ongoing P&L attribution, back testing...

BLOG

Ones and Zeros: How Asset Managers Can be Digital Transformation Heroes

By Phil Davies, CTO of Milestone Group. The pace of digital transformation in asset management has been referred to as glacial. However, this new decade comes at an inflection point – over the past couple of years, the discussion has picked up considerably with firms finally embracing the digital ecosystem. People have built up both confidence...

EVENT

Data Management Summit USA Virtual

Data Management Summit USA Virtual will explore how sell side and buy side financial institutions are navigating the global crisis and adapting their data strategies to manage in today’s new normal environment.

GUIDE

What the Global Legal Entity Identifier (LEI) Will Mean for Your Firm

It’s hard to believe that as early as the 2009 Group of 20 summit in Pittsburgh the industry had recognised the need for greater transparency as part of a wider package of reforms aimed at mitigating the systemic risk posed by the OTC derivatives market. That realisation ultimately led to the Dodd Frank Act, and...