LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Deep Systems, a company formed to address the cost and complexity of financial infrastructure and operations, announced its official launch today. Built from the ground up to service financial institutions, Deep Systems’ cost-effective infrastructure, IT, and software solutions empower asset managers, proprietary trading shops, sell-side firms, SROs, and financial ISVs to simplify operations, eliminate key dependencies, and regain focus on their core business goals.
Emerging from a multiyear stealth development phase, Deep Systems was founded to lower costs for financial firms and relieve them of operational challenges in areas including regulation, cyber security, trading technology, market structure, and business processes. Such demands have decreased executive focus on core objectives, put smaller firms out of business, and increased consolidation. Financial firms can utilize the Deep Systems platform as a complete end-to-end solution or extend its functionality via configuration, APIs, or professional services to create customized products.
“As the complexity of the financial industry increases, many players are struggling to keep up,” said Steve Tumen, CEO of Deep Systems. “The pace of change has resulted in a paradigm where firms rely on a plethora of disparate vendors patching together systems that were never designed to operate together. The net result is that these businesses have too many people managing inefficiently deployed technology in unscalable environments. We wanted to take a fresh approach because we understand the inherent power of a simplified, holistic ecosystem comprised of thoughtfully integrated technologies.”
The team at Deep Systems is comprised of financial industry veterans including CEO Steve Tumen, COO Kyle Tuskey, Managing Director of Infrastructure Mark Cukier, and Managing Director of IT Services Edward Schmidt. The executives collectively possess more than eight decades of experience in trading, software development, operations, compliance, and infrastructure design to apply to the architecture and optimization of financial technology solutions.