A trading firm that is trying to solve one of the biggest headaches in US stock trading has raised $9 million to build out its artificial-intelligence-powered matching engine.
Backed by investors including Point72 founder Steve Cohen, Imperative Execution is aiming to lure large investors away from established stock exchanges such as the New York Stock Exchange and Nasdaq by lowering the cost of executing a large trade. While the cost of trading for retail investors is racing towards zero, institutions are seeing this cost increase for stock trades of a certain size.
To read the full article, click here.
