Articles about new events in crypto, including press releases about new products and projects.

Empirica has been nominated for Best Fintech Startup at CESA 2015

Empirica has been nominated for the Best Fintech Startup in Poland at the CESA festival. CESA (Central European Startup Award) is the biggest no-pitch, no-conference start-up festival in the Central-Eastern European region. The festival brings together nearly 4.000 start-ups from 10 countries and it will be held in Vienna this year.

We are in good company, as other companies nominated in FinTech category are:

  • Zencard
  • Billon
  • WealthArc
  • our friends from FriendlyScore

The Central European Startup Awards is a series of events in the CEE countries, that aims to recognize and celebrate the entrepreneurial spirit and startup ecosystems of the region. This year eight categories will be awarded in:

  • Startup Of The Year
  • Best Investor
  • Best FinTech startup
  • Best Cloud/Data Application
  • Best User Experience
  • Best Social Impact Startup
  • Most Influential Woman
  • Best Coworking Space

CESA regognized FinTech as separate category this year reflecting that financial technologies are now the fastest growing technology sector worldwide. Incumbents in the financial industry – big banks and other financial institutions – are witnessing the emergence of new players that are profoundly changing the way individuals and business conduct their financial operations. Global investment in financial-technology (fintech) ventures tripled from $4.05 billion in 2013 to $12.2 billion in 2014, with Europe being the fastest growing region in the world, according to a report by Accenture.  Last year, fintech investment increased at more than three times the rate of overall venture capital investment. While it remains to be seen whether the burgeoning fintech industry will actually pose a threat to established institutions, it is clear that the sector is rapidly growing and many of these entrants are here to stay. Investors in the nascent sector are taking notice, profitable exits are on the horizon, and big banks are investing in new technologies to strengthen their competitive positions.

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Empirica lectures on Fund Industry Summit

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Empirica joins advisory board of London’s FinTech Connect

FintechConnect logo

Michal Rozanski, CEO of Empirica, was invited to join advisory board of FinTech Connect. The main purpose of the board would be to share knowledge and experiences with new fintech ventures looking for support.

FinTech Connect is a new initiative for the global community of financial technology stakeholders – investors, financial institutions, fintech startups and solution providers.

Empirica definitely sees a need for one place where people interested in advancement of financial technologies could exchange ideas, experiences and good practices. We are already taking part in similar initiative but on different field – IT Corner association for local software companies – and advantages of such an initiative are obvious to us. When such an idea gets critical mass of people involved that want to be active, then the effect is much more than the sum of its parts. IT Corner is living evidence of that. Therefore we are great fans and we will happily support the development of FinTech Connect.

FinTech Connect provides a digital hub and meeting place for the fintech sector. It allows start-ups, tech providers, investors and financial institutions to connect and do business through community platform. FinTech Connect has already thousands of members and the count is growing daily. In addition to start up events, FinTech Connect provides global seminars and conferences on subjects such as banking security, cash management and commercial payment strategies for corporate treasurers, and cloud IT platforms for financial institutions.

Steve Clarke, the founder and CEO of FinTech Connect says: ‘We launched FinTech Connect because we wanted to provide a global platform and community for  the fintech industry. With the incredible amount of innovation going on within many different technology hubs around the World, there is a natural element of fragmentation between stakeholders and it can at times, seem like innovation is taking place within micro-communities; either in certain geographies, sub sectors or on a smaller scale again within accelerator or incubator programmes.’

FinTech Connect is also organizing Europe’s most exciting exhibition of fintech startup innovation – FinTech Connect Live. This conference will gather over 2000 fintech professionals, over 100 exhibitors and over 100 speakers and visionaries all in one place for two days in London in December 2015.

 

Learn more about FinTech Connect at: www.fintechconnect.com

and about FinTech Connect Live at: www.fintechconnectlive.com .

 

 

Our platform implemented by large brokerage house!

Empirica has successfully finished the implementation of its Algorithmic Trading Platform in one of the largest brokerage houses in Poland.

Brokerage house will use our software to:

  • aid its internal trading operations, like market making of derivatives on Warsaw Stock Exchange
  • offer functionalities of our platform to its institutional clients, which will be able to build, test and execute their own algorithmic trading strategies

Implementation included connecting of our software system directly to the system of the Warsaw Stock Exchange (Universal Trading Platform delivered by NYSE Technologies), as well as the integration with transaction systems of a brokerage house. Additionally, we have fulfilled and successfully passed tests regarding the highest security, stability, and performance requirements.

This implementation is an important milestone for our system. The usage by a team of market makers is proof that our system is capable of performing high-throughput and low latency operations on the level required by most sophisticated traders on the capital markets.

 

 

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Next release of our algorithmic platform. Version 1.3.4 – has code name “The Firebolt”.

Next implementations of our Algorithmic Trading Platform by customers don’t stop us from developing the platform itself. Working agile requires us to keep the pace in short and frequent iterations, which in case of product means frequent releases, keeping the whole product line stable.

A few iterations that we planned in our 1.3.4 release, code named by our developers ‘The Firebolt’, will include among others:

– even faster real-time replication of all server-side components in master-slave mode (for deployment in larger institutions)

– extended client side backtesting capabilities

– sophisticated charting of backtesting results and statistics

– multiscreen mode of client side application

– additional web-based server-side module for administration & management

 

For those curious about the release name and unfamiliar with Harry Potter, Firebolt is:

“The state-of-the-art racing broom. The Firebolt has unsurpassable balance and pinpoint precision. Aerodynamic perfection.”
—Harry Potter: Quidditch World Cup

“The Firebolt has an acceleration of 150 miles an hour in ten seconds and incorporates an unbreakable Braking Charm. Price upon request.”
—Harry reads about the features of the Firebolt.

Speed, precision, balance, perfection. These are the words that describe our software, therefore choosing the code name was kind of obvious :).

 

The Firebolt broom

 

 

Warsaw Stock Exchange certifies our Trading Platform

 

Empirica’s Algorithmic Trading Platform has successfully passed the XDP protocol communication certification, issued by the Warsaw Stock Exchange.

From now on Empirica is officially listed as the ISV (Independent Software Vendor) for the Warsaw Stock Exchange.

WSE uses the Universal Trading Platform delivered by NYSE Technologies. The same system is used by many other European and world stock exchanges. Fulfillment of technical criteria of the Warsaw Stock Exchange makes certification for those markets only a formality for our platform.

 

 

Empirica in the press – ‘The age of robots … ‘

On the first of July 2014 large polish economic magazine Puls Biznesu published an article “The age of robots comes to Warsaw Stock Exchange’. Article is quoting, among others, Empirica’s representatives speaking on the topic of the growth of algorithmic trading in Poland. Excerpts below.

‘Popularization of algorithmic trading on conferences like this one is step in good direction, says Michal Rozanski CEO of Empirica, a company which delivers Algorithmic Trading Platform. Expert says that computers will never replace a human in all the tasks. First and the foremost machines are taking over the processes that human traders had to perform manually. ‘I am sure that the development of algorithmic trading will not change the soul of the markets. It will not change to the race of engineers. It is and always has been the race on new, better ideas.’ says Michal Rozanski. 

 In his opinion both small and big investors will benefit. ‘Appliance of algorithmic trading tools increases liquidity and descreases bid/ask spreads which in turn decreases transaction cost born by all investors’ adds expert.

Michal Rozanski stresses that appliance of algorithmic trading does not limit to transactions with shortt time horizon, e.g. counted in miliseconds. Each trader can designs algorithms adjusted for it’s own requirements. ‘Let’s imagine an investor who would like to open a large position on KGHM shares or futures on WIG20. To make it happen it’s best to divde the order to tens or hundreds of smaller orders, which allows to hide her intentions from other market participants. Investor remains anonymous and minimizes market impact of her large order.’ explains Michal Rozanski. 

‘I am convinced that development of algorithmic trading can be a breakthrough moment in the history of our market, as long as we will treat the matter seriously and deliberately. On Wall Street share of algorithms in total turnover is estimated at 50%, in Europe at 40%, and in Poland still at below 20%. ‘ says Adam Maciejewski, CEO of Warsaw Stock Exchange.

Link to article…

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Empirica holds workshop on Warsaw Stock Exchange

Algorithmic trading workshop took place on 27th of July 2013 as a part of the second conference held by economic magazine ‘Puls Biznesu’ and Warsaw Stock  Exchange.

Michał Różański, representing Empirica, held workshop on the practical aspects of selecting tools for algorithmic trading by financial institutions. He stressed and covered in detail, especially one aspect of algorithmic trading which is from our practical experience constantly undervalued – namely proper testing of algorithms.

Very interesting was also a lecture of Emil Lewandowski who showed an algorithm which was able to detect a flash crash an hour before it actually happened. Algorithm was implemented, backtested, executed and presented to all the participants our Algorithmic Trading Platform. It was indeed very interesting example of application of algorithmic trading!

Among other guest were representatives from IBM, Sungard, List and M10.

Link to event:

http://konferencje.pb.pl/konferencja/705,handel-algorytmiczny-cz-ii

 

 

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Empirica founds IT Corner association to support local entrepreneurship!

Empirica, along with several other software companies based in Wroclaw, has founded the IT Corner association.

IT Corner aims at supporting the development of local IT enterprises, tightening the cooperation among small and medium size high-tech sector companies and developing project and product synergies between organization members.

IT Corner will pursue it goals by:

  • organization of IT events and conferences for larger audience
  • regular technological meet-ups targeted at employees of IT Corner companies
  • cooperate on larger IT projects with member companies
  • know-how and best-practices sharing among management of member companies
  • common presence on job fairs, IT events in Poland and abroad

First common events are already planned and will be officially announced soon!

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The list of founding members encloses over 10 software companies employing altogether over 200 people. Till end of the year IT Corner aims to double its size and establish its position as biggest and most active IT association in Wroclaw.

More on: IT Corner site

 

 

 

Empirica with lecture at ‘Algorithmic Trading Conference’

Conference on the subject of ‘Algorithmic Trading’ was held at Warsaw Stock Exchange headquarters on the 28th of February 2013. The event was open by the WSE president, Adam Maciejewski. Among the invited guests were:

  • Peter Van Kleef, Lakeview Capital president
  • Michal Rozanski, CEO of Empirica
  • Andrzej Endler, CEO of M10
  • Michal Kobza, Warsaw Stock Exchange.

Michal Rozanski from Empirica made lecture on topic ‘Tools supporting financial institutions in algorithmic trading’. He showed not only common functionalities and architectures of available solutions, but also talked about practical aspects of hard decision every financial institution faces – to build software tools by own IT department or to buy from external vendors.

Very interesting was lecture held by Peter Van Kleef. Among other topics he shared his experiences from high frequency trading and how it has changed during last years.

We have informations that organizators intend to prepare soon another event relating to topic of algorithmic trading.

Link: GPW conference