James Putra
Boca Raton, FL (USA)
Role(s):
Founder/Owner/Principal
Elite Global Trading
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Startup
Location:
Fort Lauderdale
Industry:
Technology/Web
Year Founded:
2008
Number Employees:
1-10 people
Business Stage:
Growth (not profitable)
Entity Type:
Limited Liability Company
Description:
Rapid growth for the quantitative trading world aligns with our business model. Spending on computers and software in the financial industry increased to $26.4 billion in 2005. As markets increasingly depend on high quality and rapid technology, Financial Institutions depend on faster, higher quality, and higher quantity of information to make trading decisions. Elite Global Trading’ “grey-box” technology aligns with the needs of the global market place providing advanced quantitative trading systems that deliver real-time market decisions for the user.
With the recent market collapse and now current slow rebound, the market place is looking for risk reduction technology, removing the ability for one person’s decision to take down an entire financial institution. ELITE GLOBAL TRADING technology allows for the firm to set its own risk allowance prior to use, which will provide a cap to the risk in the market at any given time.
The cost of developing and maintaining algorithms is still relatively high, especially for new entrants, as the need for stability, bandwidth and speed is even higher than for regular order execution. Firms which have not developed their own algorithmic trading have had to buy competing firms.