Share page with AddThis


Liquidnet founder joins AI startup

StartupSeth Merrin, the founder and former chairman and CEO of buy-side trading network Liquidnet, has joined Neuravest Research as its executive chairman.

The US-based startup, formerly known as Lucena Research, provides AI-based portfolio construction tools.   

The appointment comes a week after Merrin announced his departure from Liquidnet, the firm he founded in 1999 and helped build into a major trading venue and dark pool operator for fund managers and institutional investors with more than 1,000 buy-side users.

One of his last roles at Liquidnet was orchestrating its move into AI-based investment decision support.

Merrin’s departure coincided with the completed takeover of Liquidnet by interdealer broker TP ICAP in a deal which could cost up to $725 million including additional performance-related payments.

Merrin also founded Merrin Financial in 1985, which is credited with launching the first electronic order management system for asset managers.

In addition to his role as executive chairman, Merrin is also a lead investor in Neuravest.

“The ability to quickly discern among the massive amounts of predictive and non-predictive data provides an enormous competitive advantage that grows with every new value-added data set,” said Merrin.

“The amount of data available continues to accelerate and the technology to process, learn, and analyse it for predictive qualities continues to grow exponentially. Unfortunately, you can’t really say that about human beings,” he added.

© 2021 funds europe

Most read features

Cryptocurrencies: Solving crypto’s sustainability problem

Cryptocurrencies like bitcoin have a huge carbon footprint but, as Nicholas Pratt discovers, environmentally friendly alternatives exist.

Roundtable: The digital transformation opportunity

The funds industry is looking at adopting new types of technology, from automation to ESG reporting, blockchain and tokenisation. A FundsTech roundtable in March explored how these will revolutionise the sector.

Proxy voting: Making every vote count

With stewardship more important than ever and digital technology to the fore, surely it is time to solve the problem of proxy voting? Nicholas Pratt investigates.

Interview: Rise of the robo-adviser

FundsTech talks to Nutmeg’s CTO, Matt Gatrell, about the role of technology in its online offering.

Regulation: Panel calls for simplicity in ESG reporting

The industry accepts the need for more rigour in ESG fund reporting, but the work will be pointless if investors don’t understand the end result. Nicholas Pratt reports.

Sponsored Profiles

Data consolidation takes centre stage in asset management M&A

MergersConsolidation between asset management firms is overwhelmingly expected to increase. Operational challenges remain thanks to legacy systems. But in a recent...

Are you being microserved?

As asset managers grapple with new digital technology, FundsTech talks to Calastone’s Adam Belding about the importance of software architecture and the benefits...

Sponsored profile: A question of trust

AcrobatsAs more firms adopt agile software development practices, Petra Roche of Metrosoft explains why trust is so important in making agility work.

Sponsored feature: Compliance and the case for agility

CheetahFundsTech talks to Janusz Lorenc, CEO of Metrosoft, about asset managers’ approach to compliance risk and the case for agile software development.