Former Managing Director and Global Head of Prime Services Technology at Credit Suisse Joins Executive Team
Online PR News – 01-February-2010 – – NEW YORK (February 1, 2010) — Correlix, the leading provider of Latency Intelligence™ solutions and the RaceTeam™ service provider, today named Gil Shaked as chief executive officer. Shaked succeeds Shawn Melamed, Correlix’s founder, who will serve as the company’s president and chief technology officer.
“2009 was a tremendous year for Correlix. Our sales grew on average more than 200% per quarter for four straight quarters. In addition, we doubled our staff, opened an office in London and achieved a global client base in the US, Europe and Asia comprising some of the world premier Investment Banks, Hedge Funds and Exchanges,” said Shawn Melamed, founder, president and CTO of Correlix. “With Gil joining to lead our team, we are well positioned to scale our operations to support our growing client base and solidify our market leadership.”
“Latency has become the new currency of high frequency electronic trading. Correlix’s unique approach to latency monitoring through the pioneering RaceTeam™ and Latency Intelligence™ offerings provide Algo-Traders the transparency and data they need to optimize their strategies and improve overall trading and execution quality,” said Gil Shaked, CEO at Correlix.
Shaked joins Correlix after a successful career spanning over 20 years of global technology and management experience supporting trading clients across the industry. During ten years at Credit Suisse, Shaked served as a managing director and the global head of Prime Services and Alternative Investments Technology. In this capacity, he spearheaded the development of a premier hedge fund servicing platform including trading, risk management, prime brokerage and reporting systems that enabled Prime Services to become a top player in the financial industry. Shaked built a global team with operations in New York, Chicago, London, Zurich, Hong Kong, Tokyo and Singapore serving thousands of clients worldwide. The seasoned executive also held leadership roles at Lehman Brothers, where he served as the global head of Credit and Market Risk Technology as well as previous positions at Bankers Trust and Citibank.
Correlix Inc., a leader in latency intelligence solutions, offers RaceTeam™, the leading latency management service providing real-time latency visibility for buy-side, sell-side and liquidity venues. Customers rely on Correlix to monitor, measure and minimize latency in trade execution and market data flow in real-time. This empowers users to execute a trade or deliver and act on market data in fewer microseconds. The company's global client base encompasses the world's largest high frequency trading sell-side, buy-side and market centers as well as low-latency service providers.
Correlix is headquartered in New York with offices in London and Israel. Correlix is backed by prominent venture capital groups Sequoia Capital, Genesis Partners, Blumberg Capital, Vernon & Park Capital, L.P. and Xenia Ventures.
For more information, please visit www.correlix.com.
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