A naukri.com initiative
Insider
2w
370
Image Credit: Insider
This startup for traders raised $30 million from investors including Stanley Druckenmiller and Greg Coffey. Here's how it plans to transform how Wall Street analyzes data.
- Reflexivity, a fintech start-up founded by two former hedge fund traders, has raised $30m in Series B funding, which includes participation from heavyweight investors including Stanley Druckenmiller and Greg Coffey.
- The firm's technology combines third-party data from around 12 providers and proprietary internal information for analysis, which it claims is targeted at helping hedge funds and institutional traders avoid missing out on opportunities they may otherwise have overlooked.
- Co-founder and CEO Jan Szilagyi described in a statement how 'Reflexivity is the act of examining one's own assumptions, beliefs and judgment systems, and thinking carefully and critically about how these influence the research process,' referring to a term coined by George Soros.
- Szilagyi said the product mitigates the risk of traders 'missing something', which he said is a significant risk in the industry.
- The technology allows traders to analyse data from about 40,000 securities from as many as 12 different providers, including Refinitiv and the London Stock Exchange Group.
- The start-up's platform combines third-party data feeds and proprietary internally generated data to give traders a complete view analysis and also flags potential market and external events that could impact a portfolio.
- With the recent funding, Reflexivity’s total capital raised increased to $41m, it claims will be used to further expand its technology and increase sales.
- The firm said it estimates the potential market for its services could be as much as $16.4bn.
- It currently has 20 institutional clients, with some 15,000 individual users, including trading platforms like Interactive Brokers, banks such as MUFG and several hedge funds like George Soros' Sonata Global Fund and ExodusPoint.
- The start-up also developed a so-called closed system to prevent generative AI's tendency to make-up answers which are presented as fact.
Read Full Article
22 Likes
For uninterrupted reading, download the app