AlgoTrader rebrands to Wyden to focus on digital asset trading and orchestration technology
AlgoTrader, the provider of algorithmic trading software to automate trading strategies in crypto, forex, stocks and derivatives, seems to have given in to digital assets.
The firm has rebranded to Wyden, reflecting the company’s ambition to grow beyond being a pure OEMS software vendor.
By adopting a unified single-brand approach across all market segments in line with the company’s overall strategy, Wyden aims to simplify its offering and market appearance as it enters its next stage of growth.
Wyden offers crypto trading platform for banks, funds, and asset managers
Wyden, formerly AlgoTrader, has grown into a relevant provider of digital asset trading and orchestration technology for buy- and sell-side clients and has decided to embrace that particularly successful side of its business.
The company now leaves behind its image as a purely algorithmic trading software vendor and will focus on its modular trading platform that enables custom solutions.
Wyden is catering to banks, hedge funds, crypto funds and asset managers by offering seamless integration with leading custody, core banking and portfolio management system providers.
The modular trading platform ensures best execution by defragmenting liquidity through market-wide connectivity and end-to-end trade automation and orchestration.
Andy Flury, Chief Executive Officer at Wyden, said: “We have come a long way from our beginning as a quant-oriented vendor to become an integrated digital asset trading technology provider serving as the infrastructure backbone for financial institutions – but our DNA is still that of a tech company. Today it is about cryptocurrencies, yet in the future every type of asset from shares to real estate and art will be tokenized – requiring a new generation of financial technology. And we at Wyden are striving to build that for our clients.”
Felix Saible, Chief Marketing Officer at Wyden, commented: “By creating a strong and unique brand we offer enhanced orientation and guidance across our global markets, which pays off in terms of company value. I am pleased that the rebranding comes amid a highly successful year in terms of banking client and headcount growth, and will mark another milestone in 2022 – altogether making a fine baseline for our upcoming series B.”
Wyden’s integrated infrastructure solutions are engineered by a team of trading system veterans and crypto asset experts.