New York, October 13, 2017 – In response to the growing need and demand for technology in the derivatives space, Thalēs Trading Solutions LLC (“Thalēs”) today, announced a spin-off of its technology platform via a new venture, Theorem Technologies, as part of Thalēs strategic growth plan.
Theorem, which is launching as a SaaS (Software as a Service) company, will bring technology solutions to augment and streamline workflows, and help alleviate the struggles many firms face managing data driven functions across the middle-to-back office. Additionally, Theorem will help firms maintain agility and scalability by providing dynamic aggregation reporting across multiple brokers.
The spin-off follows Thalēs success in building a cutting-edge technology platform that provides functionality and support to a wide range of institutional participants, including hedge funds, fund-of-funds, institutional investors, merchant firms and utilities trading futures and FX globally. Theorem will continue to increase the efficiency of its users, while minimizing manual processes and data management oversight.
In addition to the introduction of Theorem Technologies, Thalēs is appointing Tim O’Shea as President of Thalēs Trading Solutions LLC. Tim will take on this role in addition to his current role as Chief Operating Officer. Edouard Robbes, currently Head of Business Development will take on the expanded role of Chief Commercial Officer to lead the firm’s initiative on Marketing and Sales, as well as drive Thalēs’ commercial strategy going forward.
“This is an exciting time for Thalēs. Tim and Edouard’s experience, knowledge and expertise will continue to help guide us forward through a constantly changing environment.” said Stephan Solomon, Founding Partner and Chairman of Thalēs. “I am excited that our technology platform has been met with wide approval and interest. Paul Geiger, our Chief Information Officer will build on the success achieved and execute our strategic vision as Theorem’s Founder and President. Although we are grounded by traditional values, we are driven by innovation and technology”, he added.
“Thalēs has invested heavily in technology, the Thalēs platform is proven and ready for mass distribution and will continue to disrupt the current technology landscape.” said Tim O’Shea, Thalēs’ President. “Theorem’s ability to focus on delivering a unifying set of post-trade automated processes that seamlessly adapt to complex multi-broker environments, is a much-needed addition to the derivatives community.”