FutureTrade, a California-based provider of electronic equity and options execution services, has closed a $10.6 million Series D funding round led by Smart Technology Ventures.
The FutureTrade platform combines real time market data, news, and order entry together with portfolio and risk management. Concurrently, the platform enables trading on multiple venues, providing a real-time connection with prime brokers, clearing agents and portfolio and order management systems.
The system was first rolled out to hedge funds and asset managers in January 2002. Since then the vendor has signed over 150 institutional investors as clients.
Murray Finebaum, CEO, FutureTrade, says the company will use part of the proceeds of the funding to expand its development and support operations.
The vendor secured $12.5 million in a series C funding round led by Menlo Ventures in July 2003.