TradeStation Acquires Leading Portfolio Strategy Testing Technology
August 23 2010 - 7:01AM
TradeStation today announced its acquisition of the Portfolio
Maestro "Portfolio Testing" software technology from Rina
Technologies, LLC, an Ohio-based portfolio trading software
company. The products acquired include all versions of Portfolio
Maestro, together with many of Rina's legacy portfolio testing,
reporting and analysis products. Portfolio Maestro will be
seamlessly integrated with TradeStation's award-winning,
industry-leading, trading strategy design, back-testing and
automation platform.
"Portfolio testing has been one of the most requested features
by TradeStation customers for several years, so it is very exciting
soon to be able to provide our clients with a professional-level,
portfolio back-testing solution," said John Bartleman, TradeStation
Securities' Vice President of Product Management. "No other
platform enables the range of portfolio testing that Portfolio
Maestro offers. Once fully integrated and rolled-out as an
update to TradeStation Version 9.0, traders will have the ability
to test any number of strategies and symbol lists and time
intervals, test across a portfolio using strategies that reference
multiple symbols (such as pairs and inter-market analysis), rank
symbols in their portfolios with user-defined criteria and
functions, optimize the parameters of any or all of their
portfolios' strategies, and create detailed statistical reports and
charts to analyze the portfolio back-tested results. We expect to
begin our roll-out of TradeStation Version 9.0 within the next few
months and to offer the Portfolio Maestro update to Version 9.0 by
the earlier part of next year."
"Rina has been developing products for use with
TradeStation for many years, and Portfolio Maestro was no
exception," said Leo Zamansky, the leading principal of
Rina. "Once Portfolio Maestro is released within the extremely
powerful functionality in the upcoming TradeStation Version 9.0, I
believe that TradeStation will have distanced itself from any
competitor by miles, as TradeStation will now offer the leading,
state-of-the-art trading platform for the design, testing,
optimization and automated execution of both individual-asset-based
and portfolio-based trading strategies, both technical and
fundamental."
One of the lead inventors of Portfolio Maestro will be assisting
the company as a part-time consultant for at least one year (and up
to three years, if TradeStation so elects) and the other lead
inventor will be joining TradeStation as a full-time employee under
a three-year employment agreement. The purchase was made by
TradeStation Technologies, Inc., the trading software development
subsidiary of TradeStation Group, Inc. (Nasdaq:TRAD) which develops
and owns TradeStation's proprietary software, technology and
intellectual property. The total purchase price was $5
Million, $4,208,000 in cash paid at closing and $792,000 paid in
newly-issued shares of TradeStation Group, Inc. common stock at
closing (then distributed immediately following closing to the two
"lead-inventor" beneficial owners of Rina Technologies, subject to
phased two- or three-year lock-up periods).
About TradeStation Group, Inc.
TradeStation Group, Inc. (Nasdaq:TRAD), through its principal
operating subsidiary, TradeStation Securities, Inc., offers the
TradeStation platform to the active trader and certain
institutional trader markets. TradeStation is an electronic trading
platform that offers state-of-the-art electronic order execution
and enables clients to design, test, optimize, monitor and automate
their own custom Equities, Options, Futures and Forex trading
strategies.
TradeStation Securities, Inc. (Member NYSE, FINRA, SIPC, DTCC,
OCC & NFA) is a licensed securities broker-dealer and a
registered futures commission merchant, and also a member of the
Boston Options Exchange, Chicago Board Options Exchange, Chicago
Stock Exchange, International Securities Exchange and NASDAQ OMX.
Its TradeStation Prime Services division, based in New York,
seeks to provide prime brokerage services to small and mid-sized
hedge funds and other firms. The company's technology subsidiary,
TradeStation Technologies, Inc., develops and offers strategy
trading software tools and subscription services. Its
London-based subsidiary, TradeStation Europe Limited, an
FSA-authorized brokerage firm, introduces UK and other European
accounts to TradeStation Securities.
Forward-Looking Statements – Issues, Uncertainties and
Risk Factors
This press release contains statements that are forward-looking
and are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. When used in this press
release, the words "believe," "could," "expect," "once,"
"rolled-out," "soon," "will," and similar expressions, if and to
the extent used, are intended to identify forward-looking
statements. All forward-looking statements are based largely on
current expectations and beliefs concerning future events that are
subject to substantial risks and uncertainties. Actual results may
differ materially from the results herein suggested. Factors that
may cause or contribute to the potential differences include, but
are not limited to, (i) TradeStation's success in integrating the
Portfolio Maestro technology with the TradeStation platform in a
timely manner, and in a manner that increases the quality, value
and usability of the Portfolio Maestro technology with
TradeStation, and produces an enhanced set of features which
customers who back-test strategies will find highly valuable and
worth paying for, (ii) the ability or success of TradeStation to
release TradeStation Version 9.0 and its updates as currently
planned, and TradeStation's customer base and market finding the
improvements in Version 9.0 as valuable as TradeStation believes
they will, (iii) to what extent the portfolio back-testing will, in
real-time application and trading, have identified portfolio
trading strategies that are more likely to succeed, and (iv) the
extent, if any, to which the addition and marketing of Portfolio
Maestro will confer market share, account growth or marketing or
sales advantages over competitors or otherwise.
CONTACT: John Bartleman
TradeStation Group, Inc.
(954) 652-7259
jbartleman@TradeStation.com
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