New Invesment inTraderserve
Brainspark PLC
21 September 2000
BRAINSPARK plc
New investment in Traderserve
Brainspark plc, the incubator focused on creating and nurturing internet and
technology-related businesses, today announced a £1.25m investment in
Traderserve, an on-line service aimed at professional traders.
Traderserve will be a dedicated global application service provider aimed at
stock, bond, currency and futures market traders who make use of a systematic
element in their trading. This market includes professional and semi-
professional traders and fund managers. Revenues will be generated
principally from subscriptions and alerts.
Traderserve has an existing server platform and database which has been
hosting a substantial number of trading models and will develop a web front
end to offer their model building, testing, operating and execution
facilities via the Internet. The management team of Peter Swete, Nick Idelson
and Nicholas Hallam has worked together for more than four years. Peter
Swete, the Chairman, has been directing fund management businesses for the
past 20 years. Nick Idelson and Nicholas Hallam have substantial experience
designing, building and operating real time trading architectures in global
investment banks and fund management houses.
Peter Swete, Chairman, Traderserve said:
'There is a substantial worldwide community of professional traders and
hedge fund managers many of whom would benefit from the range of
sophisticated services Traderserve will provide. Joining forces with
Brainspark gives us the perfect platform to develop these services for the
Internet.'
Stewart Dodd, Chief Executive of Brainspark commented:
'Traderserve is a unique proposition which uses a robust technology platform.
The business is targeting a high value demographic and the revenue potential
is substantial. The Traderserve team is extremely experienced and well-known
in its field and this project is the culmination of a great deal of research
and development.'
Traderserve takes the number of companies incubated by Brainspark to
seventeen. So far four companies (Metapack, Petspark, Leisurehub and Easyart)
have successfully raised second-round funding.
Enquiries:
Brainspark 020 7843 6600
Gawaine Lewis
Ian Abell
Traderserve 020 7843 9980
Peter Swete
Citigate Dewe Rogerson 020 7638 9571
Martin Jackson
Charles Vivian
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