Trading Technologies acquires Chicago AI startup Neurensic

(Reuters) – Trading software provider Trading Technologies International Inc said on Tuesday it has acquired Neurensic LLC, a startup that uses artificial intelligence for market surveillance and compliance, for an undisclosed amount.

Neurensic’s team and technology, which allows market participants, exchanges and regulators to identify risks in real time from complex trading patterns, have moved over to Trading Technologies, the Chicago-based company said in a statement.

“Artificial intelligence and machine learning are rapidly altering the landscape of trading, and acquiring certain assets of Neurensic enables Trading Technologies to offer AI solutions that no other professional trading platform has offered before,” said Michael Kraines, Trading Technologies’ chief financial officer.

Reporting by John McCrank in New York; Editing by Matthew Lewis

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Apple Acquires Feelings, Microsoft R Update, 2016 Predictions: Big Data Roundup

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InformationWeek: Cloud