Trading system vendor Mantara has filed for Chapter 11 bankruptcy protection and will see its technology pass to Deutsche Bank, one of its customers. A request to the company’s CEO Michael Chin for further information was not responded to, but it is thought that the company has essentially ceased operations.
Mantara sold Catalyst, an extensible desktop trading environment that came with its May 2012 acquisition of UNX, and ExpressWay, a low-latency EMS and pre-trade risk solution.
ExpressWay’s technology architecture was notable for its use of network processors, which offer the kind of performance advantages of FPGAs, but with much greater easy of programming.
Apart from Deutsche Bank, Mantara’s customers included early investor UBS and Canada’s TMX Group, operator of the Toronto Stock Exchange. TMX used Mantara’s technology as the basis for its pre-trade risk solution.