Risk management and quant trading technology provider Boltzmann Research has received investment from Andromeda Capital Partners Suisse. The terms of the investment have not been publicly disclosed.
Launched in 2023, Boltzmann Research was founded by Chariton Christou, who was previously Head of Quantitative Research at brokerage group Tickmill. Christou engineered models for the European Space Agency’s (ESA) Rosetta Mission prior to entering the financial services industry.
The general concept of the firm is to provide outsourced, quant-like strategies to dealing desks at brokers and prop firms. Using machine learning models, which the firm has developed in-house, the company gives firms predictive pricing capabilities, which they can use to better manage risk.
Significantly, the company charges no flat fees. Instead the company only takes a proportion of excess profits generated by its technology.
Boltzmann Research said it will use the funds from Andromeda to expand its business operations, partly by improving its existing models and also partnering with more companies.
The firm’s technology is easy to plug into a brokerage’s offering as it connects to all major bridge providers, including Centroid Solutions and oneZero.
“Traditional risk systems react only after flow characteristics are already visible,” said Christou. “That latency severely limits how much yield can be captured in real time. You cannot solve sub-millisecond market microstructure with repackaged IT vendor tech.
“It requires a fundamentally different mathematical pedigree. This isn’t theoretical. Our engine is already live in production, actively optimizing execution yield for some of the industry’s largest, multi-regulated brokerages.”
Four-week proof of concept
In conjunction with the fundraising, Boltzmann Research is also offering brokers and prop firms a four week proof of concept, in which they can trial the product. Boltzmann will not receive any of the excess returns generated during the period.
“Post-evaluation, our commercial model is entirely performance-aligned, governed by a strict High-Water Mark,” said Christou. “Zero fixed licensing fees. Zero retainers. If our engine does not generate verifiable, incremental yield above your baseline, we do not get paid.”
