Financial Tradeware spins off Ultra Suite for smaller funds
NEW TECHNOLOGY | SPIN-OFF TO SERVE SMALL TO MEDIUM-SIZED HEDGE FUNDS
LONDON -- Financial institutions that develop proprietary technologies and spin them off to other firms are not uncommon.
Take Cygnifi, JP Morgan Chase’s online derivatives trading platform, and Yolus, a real-time risk and trading platform spun off by Dresdner Kleinwort Wasserstein (DrKW) in July 2001.
Both firms were weaned by the mother company with the aim of cashing in on established technology. But the Cygnifi start up failed in late 2001, and Yolus has hardly been a model of enterprise --
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