QUANTITATIVE ALPHA TRADING INC. STRENGTHENED BY NEW BOARD OF DIRECTORS, MANAGEMENT
Proprietary trading technology firm accelerates commercialization of
trading systems with addition of proven international board, top-tier
leadership and financial backing
TORONTO, March 31 /PRNewswire-FirstCall/ – Canadian-based technology firm Quantitative
Alpha Trading Inc. (QAT) [formerly RTN Stealth Software Inc. (RTN)]
announced today a series of changes that will assist the development
and rollout of its exclusive proprietary trading.
The measures, which were unanimously approved at the company’s annual
general meeting held on March 30, 2011 in Toronto, will allow QAT to
advance both its current technology and its proprietary software
offerings.
Todd Halpern, Chairman of QAT, announced the appointment of a new board
of directors made up of eminent investment, banking, trading and
distribution professionals, who collectively bring substantial
experience and expertise related to capital markets, technology and
trading.
Joining the Board of Directors are:
-- Richard Schaeffer, New York-based former chairman of NYMEX
Holdings, Inc. and the New York Mercantile Exchange, Inc. Mr.
Schaeffer has also served as a director for the Montreal Stock
Exchange and the leading Norwegian financial derivatives
exchange, IMAREX;
-- Edward Milstein, New York-based co-Chairman of both Milstein
Brothers Capital Partners and of $9 billion Emigrant Savings
Bank;
-- Jim McGovern, CEO of Toronto-based Arrow Hedge Partners, a $1
billion-plus alternative asset management specialist firm;
-- Alfred Apps, senior counsel with international law firm Fasken
Martineau DuMoulin LLP based in Toronto;
-- John Gibson, CEO and a founder of Integral Wealth Securities
Limited, a national securities dealer headquartered in Toronto;
-- Simon Posen, a New York-based former independent NYMEX trader
who specialized as a market maker in the Natural Gas market. He
also ran the trading floor operations for Mitsui USA.
-- Alan Ralph FCA, a Toronto-based retired partner with Deloitte &
Touche LLP who specialized in audit engagements for publicly
traded and owner managed enterprises.
(For more comprehensive biographical information on the Board of
Directors please refer to the company’s Web site at www.QATInc.com.)
Concurrent with coming onto the board, the directors, as well as Mr.
Halpern, have made a significant investment in the capital of the
company. (For additional financial detail, please refer to an
accompanying press release also issued by QAT.)
In addition to the new directors, QAT announced a new management team
comprised of:
-- Jim McGovern, who will serve as the company's CEO;
-- Dr. Alex Bogdan PhD, founder of RTN, who holds degrees in
artificial intelligence and mathematical psychology, who will
serve as President and lead the systems development team;
-- Michael Boulter, director and developer of one of QAT's trading
systems, who will serve as COO.
About QAT’s trading systems
QAT’s software uses a linked series of computer programs to analyze
securities market data in real time. Buy or sell orders over electronic
securities exchanges are directly executed while monitoring the status
of every trade within a given portfolio throughout the trading day.
The QAT systems seek to generate trading profits by robotically
anticipating changes in market sentiment. The system, which can be
applied to any type of security that trades electronically, identifies
and exploits discrepancies in the distribution of prices within a
specified timeframe.
Data collection, buy or sell decisions and order execution are initiated
by the system, which may enter a specific trade from the long or short
side and close out the position with the opposite trade (short or long)
at any time during the trading day.
“The beauty of what QAT has developed is that it can be applied to
anything that trades electronically – not just futures,” says Dr.
Bogdan. “It’s a systematic algorithmic trading platform that picks up
behavioral signals and provides input and then acts upon it.”
“Most computer trading systems are driven by trend-following and pattern
recognition methodologies – QAT’s system is neither of those,” said Mr.
McGovern. He also noted that it is clear that these types of trading
products and systems have the potential to enhance portfolio returns
and diversification through low correlations to traditional
investments.
About QAT
For more than a decade, QAT has been researching, developing and
maintaining proprietary algorithmic securities trading systems that
operate across numerous financial markets. Relying on behavioral
science patterns, the company’s proprietary systems use a linked series
of computer programs to analyze securities market data in real-time and
directly execute buy or sell orders over the electronic securities
exchanges while monitoring the status of every trade within a given
portfolio without human intervention. The company trades on the CNSX
exchange under the current symbol RTN.
Except for historic information, the matters discussed in this document
contain certain forward-looking statements. These statements involve
known and unknown risks, delays, uncertainties and other factors not
under the Corporation’s control that may cause actual results, levels
of activity, performance or achievements to be materially different
from the results, levels of activity, performance, achievements or
expectations expressed or implied by these forward-looking statements.
CNSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of the content of this news release.
SOURCE Quantitative Alpha Trading Inc. (QAT)
