Lakeview to Market Open Source Trading Code in Europe, Asia
May 18, 2010
Lakeview Capital Market Services said Tuesday said it will market open source software for electronic trading and risk management in Europe and Asia.
Lakeview, based in Starnberg, Germany, said it will "co-develop" software for high-speed algorithmic trading with Marketcetera, a San Francisco developer of open source code for capital markets.
The companies aim to compete with custom-built code for trading. Marketcetera claims that its open source platform "can provide a match for any commercial trading system in the market," at lower cost.
Lakeview will co-develop Marketcetera, extend support and sales services in Europe and Asia, customize code for customers, integrate the product with other applications and provide quantitative modeling and algorithm development consulting services.
"We can arm clients with the technology and knowledge necessary to successfully create and implement cutting edge automated quantitative trading strategies at a fraction of the cost previously possible."," said Peter van Kleef, Managing Director at Lakeview.
"Our goal is the democratize access to high frequency trading," said Roy Agostino, managing director of Marketcetera, "Through this new partnership, we are now able to deliver the Marketcetera platform to financial institutions across the globe."
In the open source approach, users have the control to modify and extend the core system "in any way imaginable," Marketcetera says.
