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January 1, 2001

Buyside Guru Schulman Builds Retail Tech Tools

By Peter Chapman

Evan Schulman, the buyside trading technology pioneer, is moving into retail services.

Schulman, who has been working with longtime partner Mark Hoffman at Boston start-up Upstream Technologies, invented the first order management system built for Batterymarch Financial Management and the Lattice matching engine.

His latest project, he says, is "an integrated platform that delivers actionable events."

Although purposely vague for competitive reasons, Schulman gave Traders Magazine a brief interview from his Boyleston Street office.

"We are developing a platform meant to bring institutional-quality investment services to the clients of financial planners, brokers and money managers for high net worth individuals," Schulman said. "This is basically the stuff Mark and I have been doing all our lives."

Elements of the system include the integration of separate accounts with mutual funds; an optimizer; buyside advice; and a multi-advisor or multi-broker skew.

"We are taking tools that are commonplace at the institutional level and making them work faster and get answers out in the attention-span of an individual," Schulman said. "The technology is designed to get a lot of information across in a readily comprehensible way."