October 1, 2013

Cyborg Gets a New Name, Chief Exec

By By Peter Chapman

In a bid to target institutional traders, Canada's Cyborg Trading Systems has changed its name to Embium, installed a new chief executive officer and opened an office in New York.

The five-year old company started out building desktop automation software for retail traders, but believes its future is in technology deployed on corporate servers.

The vendor has created a new trading engine for low-latency executions. It includes an algorithm development environment; real-time simulation and back-testing; in-memory complex event processing; and real-time risk management, as well as a co-located trading infrastructure.

The company was formed in Montreal in 2008 by a pair of ex-Refco derivatives traders and recently brought on former SunGard executive Janice Robson as chief executive. Embium's former chief executive James McInnes was appointed head of strategic development. He will continue to participate in new products and service offerings.

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