Shift comes amid record usage of the platform through the first half of 2020
SEATTLE–(BUSINESS WIRE)–#algotrading—QuantConnect today announced the restructuring of its offering, moving to a more customizable model that addresses the needs of individual researchers while also providing institutional clients the flexibility to scale resources to meet their growth needs. QuantConnect, an open-source algorithmic trading platform, provides its community of over 110,000 quants access to financial data, cloud computing, and a coding environment where they can design, build, and live trade algorithmic trading strategies.
Under this new model, quant firms of all sizes (alongside individuals interested in à la carte services) will be able to better deploy their resources while accessing the institutional-grade technology provided by QuantConnect. Instead of a fixed price for a predetermined set of service offerings — which various funds, user groups, and individuals previously would have been subject to — the new pay-per-seat and -service model features varying product and feature layers, allowing for the flexibility and customization needed for QuantConnect’s diverse user base.
“Since our founding in 2011, we have always listened to our users and kept up to date on their activity, behaviors, and preferences in tandem with the evolution of the market,” QuantConnect Founder and CEO Jared Broad said. “This realignment is reflective of our goal to facilitate access to institutional-grade quantitative trading tools to groups of all sizes, from a single trader to a start-up fund to an established asset manager. QuantConnect is now entirely configurable to meet your specific use case.”
Between the compute power offered for backtesting and research, multi-asset data, live trading support, and access to QuantConnect’s LEAN algorithmic trading engine, all users will benefit from the increased customization of QuantConnect’s services.
The first half of 2020 held a number of other milestones for QuantConnect. The Quant Community hit 110,000 users amid record usage of the platform, seeing a year-over-year growth of more than 110% in the number of concurrent users and backtests performed; the launch of the Idea Streams video series, which helps quants generate strategies to hunt alpha and deploy them on QuantConnect; the integration of equities Level 1 data in live trading; and the start of our Quant League competition, in which the best algos win weekly prizes.
QuantConnect is pioneering open access to quantitative trading. Its open-source algorithmic trading engine, LEAN, alongside its state-of-the-art trading platform, levels the playing field by providing cutting-edge quantitative trading technology to its community of over 110,000 quants globally. Since its founding, QuantConnect’s community of quants from 160+ countries has designed more than two million algorithms. With Alpha Streams, the world’s first marketplace for alpha, QuantConnect connects its community to institutional clients in order to supply quants with recognition and revenue for their ideas. To learn more about QuantConnect, visit quantconnect.com.
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