NEW YORK, April 30, 2013 /PRNewswire/ -- Penserra Securities LLC, a U.S. based financial services firm that specializes in global institutional trading and related brokerage services, announced that it has acquired the rights to a quantitative research platform from Tailor Research LLC further enhancing its unique brokerage technology capabilities. The acquisition brings together two of the more technology progressive boutique firms in the industry.
Penserra CEO George Madrigal states, "The two firms have been working with each other for almost two years. A few months ago it became clear that there was an opportunity to offer the investment community a more holistic and technologically advanced broker solution by acquiring the Tailor research platform."
Tailor offers a unique technology platform that uses crowd-sourcing techniques, multi-factor models, and a data scoring algorithm to derive market intelligence that continuously improves over time. The platform tracks the individual data sources then applies a larger coefficient to the specific data sources that were more successful in predicting market changes.
Tailor Research CEO, George Schmilinsky adds, "Our system is like IBM's Watson computer, but for the research industry. It becomes smarter and more statistically accurate over time."
The Tailor research platform is unlike traditional investment research, which is created by investment analysts. Instead it is more similar to Industry Expert platforms, but uses systematic sourcing methods in a compliant friendly manner. The Tailor research platform relies on a quantitative framework and statistical techniques to evaluate data rather than finding a particular individual with deep domain expertise.
Schmilinsky adds, "There is typically a lot of noise that investment managers navigate through to find meaningful data. Tailor's platform is built to help PMs sift through a lot of data and acquire a few pieces of useful information that are statistically more accurate."
About Penserra Securities LLC
Penserra Securities provides institutional investors with global equity and fixed income execution services as well as advice on many other aspects of the investment process. Founded in early 2007, Penserra is dedicated to deploying the most advanced trading technology while offering clients complete flexibility. The firm is committed to helping design custom solutions for its customers execution needs across equity and debt capital markets. Penserra also offers corporate buy-back services, desktop analytics, and transition management. Advisory and fiduciary services are offered through Penserra Capital Management LLC, a Registered Investment Advisor and affiliate of Penserra Securities LLC. For more information about Penserra and its services please visit www.penserra.com.
Penserra Securities LLC
SOURCE Penserra Securities LLC