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Thomas Weisel Partners Selects Vhayu Velocity Platform for Portfolio Trading Group's High-Frequency Trading Strategies; Powers Real-Time Trading Models Built on Detailed Multi-Variate Profiles of the North American Equity Markets
LOS GATOS, Calif. & NEW YORK --(Business Wire)-- June 14, 2005 -- Vhayu, a leader in streaming financial market data analytics software, announced today that the portfolio trading group at merchant bank Thomas Weisel Partners LLC is using the Vhayu Velocity(TM) market data analysis platform to develop, test, fine-tune and assess profitability of multiple proprietary quantitative models on years' worth of trade and quote data focusing on the North America equity markets, models that are being deployed as real-time automatic trading strategies, scanning the entire market on every tick to uncover historically validated opportunities.
"No other vendor met our requirements," said Dhiru Patel, chief quantitative strategist at Thomas Weisel Partners. "Beyond its sheer performance and flexibility, Vhayu Velocity can quickly write custom analytics. We were also able to evaluate the engine over the Internet, there was a quick, no-cost, proof-of-concept and they're providing the high-end consulting and dedicated support we expected."
Thomas Weisel's portfolio trading group, headed by Tim Heekin in San Francisco, uses Velocity and the Vhayu VWAP engine to back-test theories and strategies based on multiple years' worth of Trade and Quote data, then trade in real time using their event-driven technology after confirming that these back-tested models are fit for real-time deployment. Once confirmed, trades are executed in real time by sending FIX messages directly to their order management system from the Velocity engine, with the order management system forwarding the FIX message for execution.
"Thomas Weisel's decision is another testament to our promised performance, flexibility and customizability," said Jeffrey Hudson, CEO at Vhayu. "It's the modularity of the fast, easy-to-use Vhayu Velocity solution that enables firms like Thomas Weisel to leverage the scalability and reliability they can gain from our high-performance platform."
About Thomas Weisel
Thomas Weisel Partners is a merchant bank providing investment banking, institutional brokerage, private client services, private equity investing and asset management exclusively focused on the growth sectors of the economy. The firm's distinctive competence is combining deep domain expertise, superior transaction execution capability and senior level attention. Thomas Weisel Partners has 500 employees with 64 partners and is headquartered in San Francisco with additional offices in New York, Boston and Menlo Park, California.
About Vhayu
Vhayu delivers the fastest and easiest-to-use real-time software solutions to the world's leading financial institutions for the capture and high-speed analysis of massive amounts of streaming and historical data. Through its unique patented technology, the Vhayu Velocity market data analysis platform gives a significant competitive advantage to its customers by delivering the information needed to make trading decisions faster than any other available system. Partnered with Reuters, SunGard, TIBCO, InfoDyne and HyperFeed, Vhayu's customer base includes broker/dealers, the leading online discount broker, hedge funds, market-data providers and alternative trading systems. Vhayu was founded in 1998 by a group of experts in multi-processor design, real-time operating systems, enterprise database systems and financial market data and is backed by top tier investors including Silicon Valley Bank and Menlo Ventures. For more information, visit http://www.vhayu.com.
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