IMC, one of the world's most active proprietary trading firms, has acquired the team of Tensor Technologies, a high-frequency trader and developer of trading software and algorithms, located in Zug. Scientists and graduates of ETH Zurich founded Tensor in 2018. Mitte politician Gerhard Pfister was one of the board members.
Tensor Technologies built next-generation trading strategies and software using applied machine learning algorithms and toolsets. In addition, the fintech company trades different asset classes on various electronic exchanges around the world. High performance algorithms and smart strategies allow the small team to efficiently scale across many markets globally. The research is driven by big data and the resulting algorithms are run on high-performance hardware using in-house developed software.
The company was focussed on High-frequency trading (HFT), the computer-based automated trading of financial instruments, in which assets are bought and sold – and profits made – in fractions of a second. HFT relies on ultra-fast software and hardware, minimal network latency, and access to high-precision historical market data. Tensor leveraged its HFT set-up for less latency sensitive trading strategies as well. As a proprietary trader, Tensor developed its own strategies, programs, and algorithms for global trading, and exclusively invest their own capital.
The team has now joined IMC, a proprietary trading firm and market maker for various financial instruments listed on exchanges throughout the world. The company was founded in 1989 in Amsterdam and has grown internationally, trading primarily on the basis of data and algorithms, and using its execution platform to provide liquidity to financial markets globally. Today IMC has more than 1300 employees and is active in more than 100 trading venues. The newly formed team in Zug will be operating as IMC Zug AG from the existing office of Tensor Technologies.
(Press release / SK)
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