Vienna (energate) – The Austrian IT developer VisoTech sees great development opportunities after the takeover by Trayport. One topic in particular is an algo-trading system based on artificial intelligence, as VisoTech CEO Jürgen Mayerhofer emphasised in a in conversation with energate.
With the “autoTRADER” the company offers an algo-trading system for power and gas. Trayport is a provider of energy trading systems. The Trayport trading platform “Joule” is used by trading companies, brokers and exchanges in Europe. For VisoTech managing director Mayerhofer the takeover by Trayport is “a huge step forward”. With “Joule” it is now possible to offer a trading screen for the autoTRADER system. In total, more than 300 Trayport customers are using “Joule”, meaning that access to customers has risen significantly.
One market participant called Trayport’s takeover of VisoTech “a very clever move”.
In addition, Mayerhofer emphasised that the company’s roadmap for further product development remains largely unchanged. On the one hand, they want to integrate further exchange platforms in Europe. On the other hand, the autoTRADER, which has up to now been designed for short-term trading, is to be expanded to enable trading in futures and forwards. In addition, algo-trading should also be possible on OTC markets in the future. Another development step is expected to be the improvement of the algo-trading system using artificial intelligence (AI) findings. VisoTech is expected to become the competence center for the entire TMX Group, to which Trayport belongs.
Competition in Algo-Trading Systems
Mayerhofer assumes that VisoTech will not change its corporate philosophy even after the acquisition. The company employs around 50 people. Internally, a start-up culture is cultivated, although the company has been around since 1999. For a long time, VisoTech has offered solutions for scheduling and balancing group management in the Austrian power market. The development of the algo-trading system in 2015 represented a significant development.
By contrast, Trayport is part of a larger corporation and has a strong market position in some areas in Europe. Algo-trading systems are competitive products in which there are other competent providers, Mayerhofer emphasised. “We want to be the market leader, but that requires constant development effort,” he said. From the perspective of algo-trading, he certainly sees advantages if EEX replaces the Trayport backend with Deutsche Börse’s M7 system at the end of next year as expected.
One market participant called Trayport’s takeover of VisoTech “a very clever move” as trading opportunities can be expanded on the Trayport system.
Article written by Dr. Heiko Lohmann and published in energate messenger+ on November 4, 2019.
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