| NEW YORK (HedgeWorld.com)-Front-end
trading technology provider TradingScreen Inc. is seeking
to expand its business, following the closing of its
series C round of financing.
Officials raised an additional US$12 million in business
capital, and Thomas Kim has joined the firm as chief
operating officer. Mr. Kim is in charge of all aspects
of the company's daily operations;was in a similar role
at Mandarin Capital, a firm that helped managers consolidate
market data.
The rise of electronic trading and the potential for
less hardware having to reside in the manager's office
puts TradingScreen in a position to challenge traditional
providers, Mr. Kim said. Hedge funds and investment
managers as a whole are looking for cost efficiency
in trading technology, he noted.
TradingScreen's multi-broker hub was introduced earlier
this year as a way to give hedge funds access to a variety
of algorithmic trading strategies. (Previous HedgeWorld
Story)
The firm's 300 customers include hedge funds as well
as traditional asset managers and private bankers, representing
a total of US$1.65 trillion in assets under management.
The lead investor in the venture capital funding was
Net Partners, which was one of the first venture funds
in Europe to focus on commerce and transaction services
companies. The TradingScreen investment rounded out
the investment period for Net Partners' 2000 fund.
Susan L. Barreto
Senior Reporter
HedgeWorld.com
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