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UBS Quant HQ offers “Riskbot®” Risk Management Platform to clients
1 Hyannis Port Research's Riskbot appliance inspects messages traveling to and from financial markets stopping erroneous orders that could otherwise cause disruptions such as the Flash Crash. This new technology can inspect such information in the time is takes a beam of light to travel less than 500 feet.
New York, June 25, 2013 – UBS today announced a partnership with Hyannis Port Research’s (“HPR”) Riskbot® offering, making it available to the clients of UBS Quant HQ, a business area focused specifically on the unique requirements of the systematic, or quantitative, trader. UBS Quant HQ combines the firm’s human insight and expertise with cutting-edge technology to provide this specialized customer segment with tailored access to the wide range of UBS global Investment Services.
HPR created “Riskbot®” in response to latency issues plaguing the market. Riskbot® utilizes a Patent Pending “market-aware-firewall” and faster trading infrastructure that provides comprehensive risk management solutions for full portfolio as well as basic pre-trade risk controls, such as those required by the Securities and Exchange Commission’s Market Access Rule (SEC Rule 15c3-5).
Matt Senecal, Head of Business Development for Electronic Trading at UBS, said: “Our open-architecture approach in Quant HQ means we are constantly looking for advanced capabilities that serve our clients’ needs – whether those capabilities reside in-house at UBS or have been developed externally. Rigorous risk management controls are as critical to our clients as they are to an efficient marketplace. We think Riskbot® will offer a powerful solution to our clients who have been seeking effective, extremely fast risk management technology.”
HPR CEO Anthony D. Amicangioli commented: “Our partnership with UBS presents an opportunity for quantitative traders to benefit from HPR's break-through technology combined with UBS's global reach and comprehensive Quant HQ offering. Our nanosecond platform, which went live earlier this month, provides a level playing field for organizations that wish to reduce trading costs and gain alpha through cutting edge technology.”
UBS Quant HQ is organized as a global joint venture between the firm’s Prime Services and Direct Execution businesses. Quant HQ combines the firm’s human insight and expertise with cutting-edge technology to provide this specialized customer segment with tailored access to the wide range of UBS global Investment Services.
Despite the fact that systematic traders represent approximately 30% to 50% of global market liquidity , the majority of large multi-asset investment firms focus their service offering primarily toward large, fundamental long-only strategies. By creating a business area that is dedicated to the needs of quantitative traders, UBS seeks to enhance service delivery to this specialist segment, while continuing to maintain the same high standards for institutional buy side and hedge fund clients.
About Hyannis Port Research:
Founded in 2011, Hyannis Port Research provides real-time risk management products and professional services for banks, hedge funds and exchanges. HPR provides a distributed, highly scalable appliance that forwards messages in 500 nanoseconds regardless of packet size while maintaining absolute determinism. More information can be found at www.hyannisportresearch.com
Notes to Editors
UBS draws on its 150-year heritage to serve private, institutional and corporate clients worldwide, as well as retail clients in Switzerland. Its business strategy is centered on its pre-eminent global wealth management businesses and its universal bank in Switzerland. Together with a client-focused Investment Bank and a strong, well-diversified Global Asset Management business, UBS will drive further growth and expand its premier wealth management franchise.
UBS is present in all major financial centers worldwide. It has offices in 57 countries, with about 35% of its employees working in the Americas, 36% in Switzerland, 17% in the rest of Europe, the Middle East and Africa and 12% in Asia Pacific. UBS employs about 65,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
2 Percent of liquidity varies based on geographic location, estimates taken from data published by The TABB Group, Aite Group and Celent.
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