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Prediction Dynamics Launches New Trading Tools for Crucible Platform

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DUBLIN, Ireland (–Prediction Dynamics introduced a new product designed to help banks, hedge funds and other asset managers build and use a variety of quantitative trading models.

EngineTools 1.0, which builds upon the Crucible software platform, targets a growing population of quantitative traders and analysts, said John Carney, Prediction Dynamics’ chief technology officer, in a statement.

“The use of quantitative trading methods is on the increase across investment houses,” he said. “However this market is already becoming somewhat crowded and there is a strong appetite amongst quantitative traders to explore alternative methods for enhancing such strategies.”

Mr. Carney said the new EngineTools provides those methods.

Additionally, InsightEngine, one of three core programs on which the EngineTools platform relies for analysis, has been enhanced. According to a statement from the company, the upgraded InsightEngine helps users better understand how more complex trading models–including black box models that use nonparametric algorithms–work. The analysis can show so-called “hidden dependencies” between market variables.

The other programs, or engines, powering EngineTools are FactorEngine and ModelEngine. FactorEngine is designed to identify “optimal factor sets” that drive markets, while ModelEngine can be used to build nonlinear trading models, according to Prediction Dynamics officials.

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