Trading Technologies (TT) has moved into the surveillance market through the acquisition of Neurensic, an artificial intelligence (AI) regtech providing a solution for trading, compliance, surveillance and banking.
Founded in 2015, Neurensic provides an AI platform for identifying complex patterns of trading behaviour at a vast scale, across multiple markets, in near real time. The platform combines high-speed, big data processing power with machine learning technology to deliver a continuous assessment of the compliance risk associated with complex trading behaviours.
Michael Kraines, chief financial officer at TT, says: “Artificial intelligence and machine learning are altering the landscape of trading. Acquiring certain assets of Neurensic enables TT to offer AI solutions that no other professional trading platform has offered before. This represents the first of several pending solutions powered by this technology that we will offer to our clients on the TT platform.”
Rick Lane, CEO at TT, adds: “The ability to provide literal push-button access to advanced machine learning surveillance capabilities, with zero infrastructure investment and zero integration cost, will allow our clients to further benefit from the value of our platform and network.”
David Widerhorn, founder and CEO at Neurensic, expects TT to take Neurensic’s technology platform to the next level. He comments: “This deal marks an important milestone in our mission to empower the industry with AI technology that is capable of understanding real-time data, and in doing so, supports the industry in navigating the challenges of today’s dynamic regulatory environment.”