Trading firm Imperative Execution kills it with $9m funding
Connecticut-based fintech firm Imperative Execution has completed a $9 million Series A round of financing.
The round included participation from buy side firms, industry executives and venture capital funds – no names for these have been revealed.
It follows a $5 million five-investor seed round in 2017, and is aimed at helping the firm grow IntelligentCross, its trading venue for institutional investors, launched in September.
IntelligentCross is a smart venue, using artificial intelligence (AI) for scheduling matching, engineered to reduce market impact and its cost.
Roman Ginis, founder and CEO of Imperative Execution, comments: “We founded Imperative to create more efficient markets. Market efficiency for institutions is about market impact – a measure of price dislocation during trade execution. The brokerage community has done an impressive job of developing advanced execution algorithms to help with this, but trading venues have lagged in innovation.”
“We believe our approach to market design, building smart venues that optimise for investor objectives, has the potential to truly transform trading in the same way that smartphones have transformed our communications,” concludes Ginis.
IntelligentCross, currently accessible through various electronic execution providers, is built to minimise market response after each trade, as it adapts to market conditions.
