Hanweck

Hanweck
Private
Industry Financial Technology
Founder Gerald A. Hanweck Jr., Ph.D.
Headquarters New York, NY, United States
Area served
 Worldwide
Key people

Gerald A. Hanweck Jr., Ph.D. (Founder & CEO)[1]

Michael Hollingsworth (COO)[1]
Products

Volera Derivatives Risk Analytics as a Service

Derivatives Portfolio Risk Analytics as a Service

Historical Options and Futures Analytic and Tick Data
Website www.hanweck.com

Hanweck is a financial technology company that provides real-time derivatives risk analytics as-a-service on behalf of exchanges, banks, broker-dealers, market-makers, asset managers, and central counterparties.[1] The company is based in New York City and has offices in Chicago and Belfast.

History

Hanweck was founded in 2003, initially as a consulting firm, by Gerald A. ("Jerry") Hanweck Jr., Ph.D.[1] Prior to launching Hanweck, he worked for ten years with JPMorgan, where he was Chief Equity Derivatives Strategist and led the bank's U.S. Fixed-Income Derivatives Strategy team.[2]

In 2007, Hanweck launched Volera Options Analytics Engine, the first GPU-based software product for the financial services industry.[3][4][5][6] In 2011, Hanweck introduced a new TIMS Scenario Feed of real-time equity option scenario calculations, based on the Options Clearing Corp's Theoretical Intermarket Margining System.[7]

The VoleraFEED was deployed as an analytics service by several securities exchanges, including the New York Stock Exchange[8], the International Securities Exchange (ISE)[9], and TMX Group[10].

In October 2015, Hanweck opened its European headquarters in Belfast, Ireland.[11][12] In November of that year, Hanweck secured $10 million in financing, composed of debt and equity, led by Argentum, a New York-based private equity firm.[13]

In April 2017, Nasdaq launched Nasdaq Ventures, a global venture investing program focused on cultivating talent and technology advancement within financial services. Hanweck is one of three companies in which Nasdaq Ventures invested.[14]

Today, Hanweck’s Volera platform performs real-time risk analytics as a service across multiple asset classes and exchanges, at the security and portfolio levels.[15] Hanweck is also a provider of historical options tick and analytic data.[16][17]

Industry Recognition

FinTech Innovation Lab - financial-technology competition for start-ups 

The New York City Investment Fund, the economic development arm of the Partnership for New York City, and global consulting firm Accenture selected Hanweck as one of six winners of the Financial Technology Competition for Startups in June 2011.[18]

Fund Technology and WSL Awards

Hanweck was selected for the Best Risk Management Solution – Innovation, by the Fund Technology and WSL Awards in February 2017.[19]

Best Companies to Work for in New York

The Best Companies to Work for in New York State selected Hanweck as the #1 company to work for in the small/medium employer category (15 – 249 employees) in April 2017.[20]

Building the Future Belfast Award/Top 50 US-Ireland Companies

Hanweck was named to the list of the Top 50 US-Ireland Companies in June 2017 and was the recipient of the Building the Future Belfast Award.[21]

References

  1. 1 2 3 4 "Hanweck Associates, LLC: Private Company Information - Bloomberg". www.bloomberg.com. Retrieved 2017-05-31.
  2. ↑ "Financial Tech Startups Pitch Their Investment Worth". American Banker. Retrieved 2017-05-31.
  3. ↑ Hammer, Stephanie (2013). Architects of Electronic Trading: Technology Leaders Who Are Shaping Today's Financial Markets. United States: John Wiley & Sons. pp. 33–44. ISBN 1118488059.
  4. ↑ "GPUs Finding A New Role on Wall Street". HPCwire. 2008-09-22. Retrieved 2017-06-02.
  5. ↑ Groenfeldt, Tom. "For Pricing Options and Managing Risk, Look to GPUs". Forbes. Retrieved 2017-06-02.
  6. ↑ "Wall Street & Technology - Wall Street Accelerates Options Analysis With GPU Technology". www.wallstreetandtech.com. Retrieved 2017-06-02.
  7. ↑ "Hanweck Unveils TIMS Scenario Feed - WatersTechnology.com". WatersTechnology.com. 2011-02-28. Retrieved 2017-06-22.
  8. ↑ "NYSE Market Data Notices". www.nyxdata.com. Retrieved 2017-06-22.
  9. ↑ "Tabb Forum TV - Implied Volatility and Greeks Data Feed from ISE". www.mondovisione.com. Retrieved 2017-05-31.
  10. ↑ "TMX Group launches Canadian implied volatility and Greeks analytics feed". www.newswire.ca. Retrieved 2017-06-22.
  11. ↑ Ireland, Invest Northern. "US Fintech Firm Hanweck Associates to Establish its European HQ in Belfast". www.investni.com. Retrieved 2017-05-31.
  12. ↑ "US tech company to create 19 jobs in Belfast". BBC News. 2015-10-26. Retrieved 2017-06-02.
  13. ↑ "Risk Analytics Pioneer to Get $10M PE Infusion | FTF News". www.ftfnews.com. Retrieved 2017-05-31.
  14. ↑ "Nasdaq Launches New Ventures Platform - Markets Media". marketsmedia.com. Retrieved 2017-05-31.
  15. ↑ "Hanweck integrates real-time derivatives data with historical options tick database". LeapRate. 2017-04-18. Retrieved 2017-06-02.
  16. ↑ Banerji, Gunjan (2017-05-07). "Traders Are Fleeing the Options Market". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-05-31.
  17. ↑ Rosenau, Pamela. "A Tipping Point In The Market". Forbes. Retrieved 2017-06-02.
  18. ↑ Needleman, Sarah E. (2011-07-22). "Winners of Start-up Competition Announced". WSJ. Retrieved 2017-05-31.
  19. ↑ "2017 WINNERS". Retrieved 2017-05-31.
  20. ↑ Burns, Megan. "2017 "Best Companies to Work for in New York" - Best Companies to Work for in New York". www.bestcompaniesny.com. Retrieved 2017-05-31.
  21. ↑ "US-Ireland Top 50 Companies 2017". aisling-events.com. Retrieved 2017-06-22.

Hanweck Website

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