Start-up firm's software aids hedge-fund success
A Northern Ireland start-up company has cause to celebrate after its software helped a $100m Swiss-based hedge fund to success.
Rantec Research developed software at Northern Ireland Science Park which can predict currency market movements.
While major global funds suffered losses of up to 10% in May, Rantec Research's trading model recorded strong profits of 6% for the Hepta GFX Fund.
Rantec emerged from a business incubator programme for nurturing new companies at NISP where it developed the trading model EA1, based on the Brownian theory of motion. The company applied the theory to the calculation of currency market movements in a bid to predict what the next best trade might be.
William Kerr, founder and managing director of Rantec Research, said he was delighted with the success of the company's efforts. "Rantec's models are entirely uncorrelated to traditional market fundamentals and we have worked tirelessly to create a formula which will deliver long-term results to its investors. The recent triumph for the Hepta GFX Fund is a great success for us."