Marketcetera

History

Marketcetera was founded in 2006 in San Francisco by Stanford computer scientists CEO Graham Miller and CTO Toli Kuznets. Early in 2008, the firm raised $4M through investors Shasta Ventures and Jack Selby, managing director of Clarium Capital. After a period of testing, version 1.0 of the software was released on 14 January 2009 for windows. On 17 February, with the release of v1.1, Marketcetera became additionally compatible with Linux, increasing its potential market reach. The most recent release was 3.2.1 in September, 2019.

In March 2009, Marketcetera appointed W. Brennan Carley to its board of directors. Carley was the founder of BT Radianz, and has held C-level positions at such financial institutions as Reuters and Instinet, as well as serving on the board of firms such as Yipes.

As of June 2009, Marketcetera are in partnership with NYSE Technologies (the commercial technology division of NYSE Euronext) to provide a 'Software-as-a-Service' (SaaS) Trading Platform on NYSE Technologies’ SFTI (Secure Financial Transaction Infrastructure) Network.

Current and future usage

The aim of Marketcetera is to be used by traders, hedge funds and financial services firms. Marketcetera currently has over 10,000 software downloads, and some hedge funds have commented encouragingly on the prospects of open source platforms in this area. Given that Marketecetra is open source software, the company generate revenue primarily through data and support services, and currently has over 20 active support contracts.

Marketcetera may in future be able to get regulatory approval as a certified broker, and as a result earn extra commission on its trades. Future versions of the software are likely to include tools for trading currencies and commodities.

Bibliography

References

References

1. "Marketcetera gets $4M to bring open source to automated trading". VentureBeat.
2. (March 23, 2009). "Marketcetera Appoints Financial Technology Pioneer to Board of Directors". [[Thomson Reuters]].
3. "Yipes Names Technology Finance Veteran to CFO Position, Adds Industry Pioneer to Board of Directors". Relianceglobalcom.com.
4. (June 25, 2009). "NYSE Technologies and Marketcetera Launch New Era "Software-as-a-Service" Trading Platform on SFTI Network". [[NYSE Euronext]].
5. "Welcome to the Marketcetera Community - Marketcetera Auto Trading Platform - Confluence". Marketcetera.org.
6. (January 19, 2009). "Open-Source Technology May Gain as Wall Street Cuts Back". Securities Industry News.
7. Asay, Matt. (2007-08-24). "Marketcetera, one of the coolest open-source companies I've seen in a long time | The Open Road - CNET News". News.cnet.com.
8. Vance, Ashlee. (January 14, 2009). "Bringing Open Source Software to Trading Desks". [[The New York Times.