More than $620 billion in institutional money market fund assets were traded through Cachematrix Holdings’ portals and customised trading systems powered by its software through 2007.
The exponential jump in trade volumes in 2007, which increased 375% in terms of assets, set a new volume record for Cachematrix. The increase reflected the addition of new bank and financial services customers who have incorporated Cachematrix’s institutional money market trading software into their product offering.
“2007 was a breakthrough year for Cachematrix, as leading financial institutions fully embraced our technology solutions. In total, four of the top 10 global banks, and domestically, six of the top 100 US banks, use Cachematrix technology. Three of the world’s top 10 investment banks also have incorporated our trading technology as well,” says George Hagerman, founder and CEO, Cachematrix.
“With corporate cash investments in money funds reaching record levels, and Sarbanes Oxley regulations driving greater automation, money market trading software for banks and financial institutions are a must-have service that is being demanded by corporate and institutional clients,” adds Kevin Sun, chief technology officer, Cachematrix.