Algorithmic trading has quickly become one of the hottest growth areas in the financial industry today, and is perhaps the most talked about trading approach on Wall Street right now. These advanced trading systems process massive amounts of data through complex financial models to identify optimal alpha opportunities. What’s more, these trades are typically automated and done in high volume, maximizing cost and time efficiency.
… A rising population of programmers, data scientists and mathematicians are now looking to write complex codes for automated investment strategies of their own. The challenge is gaining access to tools and data sets typically available only to institutional financial firms and hedge funds.
But now, one ambitious company looking to harness this quant trading revolution and partnering with those aspiring algo traders is CloudQuant, a free opensource, cloud-based trading strategy incubator that allows data scientists and programmers from all walks of life a chance to test their trading idea with historical data and an advanced backtesting engine. For strategies that show potential, CloudQuant will actually license the algorithm and allocate real capital to test it on the market, sharing any profits generated from the strategies with their creators.
The company just announced another $10 million allocation for a second trading algorithm.