SIX, the owner that operates the Swiss stock exchange has entered into a strategic partnership with Israeli startup Cortica and Hong Kong’s Duotem to develop AI-based securities services. Initial work will focus on the post-trade industry.
Israel’s Cortica has signed a cooperation agreement with the SIX Group, owner and operator of the Swiss Stock Exchange, and Duotem Capital to improve the stock exchange activity using artificial intelligence technologies, in order to identify trading patterns and identify counterfeits and attempts to manipulate share prices.
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This is an exceptional deal by allowing access to all the historical information of one of the most prestigious stock exchanges in the world. Under the agreement, Cortica’s technology will be used to study the steps and reactions of traders and automated trading systems, in real time and in historical data. When the information will be used by the Swiss Stock Exchange to make changes and improvements including the presentation of purchase and sale offers, transactions, post-trading corrections if required and more.
According to Yigal Reichlegaus, “In recent years there has been a quantum leap in the use of an algorithm in stock market trading from around the world. Today, the vast majority of citations and transactions on the stock exchange are automatically executed by computer systems in most of the time without human intervention, some of which also use artificial intelligence technologies. Learning how to deal with the large volumes of data will enable the stock market to improve the service provided to merchants and protect them from fraudulent attempts. ”
The company was founded by Radina Udniev, Yigal Reichalgauz and Prof. Yehoshua Zeevi. So far, the company has raised more than $ 69 million from Uzia Galil, Samsung, Li Ka-shing, the richest man in Asia, the Chinese search giant Qihoo, Mail.ru and other investors. The company employs 100 people in offices in Tel Aviv, Beijing, New York and Haifa. Artificial intelligence technologies developed by the company are used, among other things, in the field of defense and the development of autonomous vehicles.
Israel’s Cortica has signed a cooperation agreement with the SIX Group, owner and operator of the Swiss Stock Exchange, and Duotem Capital to improve the stock exchange activity using artificial intelligence technologies, in order to identify trading patterns and identify counterfeits and attempts to manipulate share prices.
This is an exceptional deal by allowing access to all the historical information of one of the most prestigious stock exchanges in the world. Under the agreement, Cortica’s technology will be used to study the steps and reactions of traders and automated trading systems, in real time and in historical data. When the information will be used by the Swiss Stock Exchange to make changes and improvements including the presentation of purchase and sale offers, transactions, post-trading corrections if required and more.
According to Yigal Reichlegaus, “In recent years there has been a quantum leap in the use of an algorithm in stock market trading from around the world. Today, the vast majority of citations and transactions on the stock exchange are automatically executed by computer systems in most of the time without human intervention, some of which also use artificial intelligence technologies. Learning how to deal with the large volumes of data will enable the stock market to improve the service provided to merchants and protect them from fraudulent attempts. ”
The company was founded by Radina Udniev, Yigal Reichalgauz and Prof. Yehoshua Zeevi. So far, the company has raised more than $ 69 million from Uzia Galil, Samsung, Li Ka-shing, the richest man in Asia, the Chinese search giant Qihoo, Mail.ru and other investors. The company employs 100 people in offices in Tel Aviv, Beijing, New York and Haifa. Artificial intelligence technologies developed by the company are used, among other things, in the field of defense and the development of autonomous vehicles.
