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August 3, 2012

Cyborg Opens Up

By Peter Chapman

Cyborg Trading Systems has opened up its soup-to-nuts trading platform, Cloud Trader, to developers interested in building their own trading strategies, or algorithms, and running them through Cyborg's automation framework.

Cloud Trader is hosted by the London, Ontario-based Cyborg, rather than sitting on the user's desktop as does their original application, Cyborg Trader.

The offering is geared toward traders and developers at hedge funds, banks and broker-dealers who want to design proprietary trading models without the barriers to entry of development time and cost. The product is an outgrowth of the work Cyborg put into developing custom solutions for clients.

Besides the software, Cyborg manages the connectivity to and co-location with exchanges, as well as inbound market data feeds. Traders can build strategies for equities, options, futures and foreign exchange.

According to Jamie Oschefski, Cyborg's director of U.S. sales, a typical trading strategy involves about 100,000 lines of code. But with Cyborg's algorithm development kit, the same strategy would only require writing about 650 lines, he said. Thus the product makes it easier and faster for firms to get their strategies into the market, Oschefski said.

And because the technology is "cloud"-based, it is possible for a strategy to be developed in one location and deployed in another, he explained.

Cyborg was started in 2009 by former employees of futures brokerage Refco, which collapsed in 2005. Oschefski himself was a trader for 12 years.

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