Tradeworx sells trading platform to Blueshift Asset Management

Tradeworx has sold its trading business to Blueshift Asset Management, so it can focus on its financial market big data solution Thesys Technologies.

The investment will see Tradeworx change its name to Thesys Group and its trading business will become a separate firm named under Blueshift Asset Management. Tradeworx’s buyer Blueshift is led by former CIO of the trading company.

Blueshift was able to make the acquisition due to an investment from White Oak Equity Partners. The investment sees White Oak take a minority stake in Blueshift.

Thesys Technologies provides technology to capital markets, by developing trading technology and big data solutions. The company offers pre and post-trade surveillance tools, trading platforms, matching engines and analytics tools. Founded in 2009, the company helps digital traders to get deeper insights to the market, with a simulation solution designed to test strategies.

New Jersey-based Blueshift Asset Management is a quantitative investment management firm that delivers research-based trading knowledge of the markets.

Thesys Group CEO Mike Beller said, “As we evolved both our technology and trading businesses over time, we realized it was mutually beneficial to separate the two businesses to maximize their potential. This new corporate structure better aligns with our recent growth as a market structure technology leader within capital markets, while allowing the team at Blueshift Asset Management to focus solely on institutional asset management.”

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