Imandra announced it’s gained significant traction across European exchanges. The artificial intelligence (AI) startup brings automated reasoning and digital twin technology to improve operational resiliency for trading venues and is now supervising exchange technology responsible for approximately 25% of all European equities trading.
The flagship product, Imandra Markets, provides exchanges and trading venues with a suite of AI-powered services for designing, testing, calibrating, and auditing complex financial systems to improve business intelligence and system resiliency. It digitizes venue design, creating “digital twins” powered by automated reasoning AI to ensure compliance and correct implementation.
This helps exchanges and trading venues test and improve their system operational resiliency and meet their regulatory obligations to maintain the orderly function of the markets.
When the performance of financial systems is called into question due to outages or failed technology upgrades, the impact is wide-reaching, with regulatory and commercial consequences, as well as reputational damage.
What’s more, market outages have led to a recent IOSCO Consultation Report looking to identify lessons learnt and develop good practices for trading venues to improve market-wide resilience. The “Consultation Report Market Outages” document published by IOSCO in December 2023 shows that software-related issues caused the vast majority of market outages, including failed software releases and invalid instructions.
Paul Brennan, chief strategy officer at Imandra, said in a statement: “Imandra’s digital twins model real-world applications in a safe, virtual setting, using AI-powered logical reasoning to verify system behaviour. This allows users to pinpoint defects and inefficiencies early, before systems process any data or trades. This is a much more efficient and cost-effective way of eradicating problems than addressing them in the later phases.”