10.17.2017

Fintech Firm Deep Systems Announces Opening

Deep Systems, a company formed to address the cost and complexity of financial infrastructure and operations, today announced its launch at the Futures Industry Association’s Expo 2017 in Chicago.

Built from the ground up to service financial institutions, Deep Systems’ cost-effective infrastructure, IT, and software solutions empower asset managers, proprietary trading shops, sell side firms, SROs, and financial ISVs to simplify operations, eliminate key dependencies, and regain focus on their core business goals.

Emerging from a multiyear stealth development phase, Deep Systems was founded to lower costs for financial firms and relieve them of operational challenges in areas including regulation, cyber security, trading technology, market structure, and business processes. Such demands have decreased executive focus on core objectives, put smaller firms out of business, and increased consolidation. Financial firms can utilize the Deep Systems platform as a complete end-to-end solution or extend its functionality via configuration, APIs, or professional services to create customized products.

“As the complexity of the financial industry increases, many players are struggling to keep up,” said  Steve Tumen, CEO of Deep Systems. “The pace of change has resulted in a paradigm where firms rely on a plethora of disparate vendors patching together systems that were never designed to operate together. The net result is that these businesses have too many people managing inefficiently deployed technology in unscalable environments. We wanted to take a fresh approach because we understand the inherent power of a simplified, holistic ecosystem comprised of thoughtfully integrated technologies.”

The team at Deep Systems is comprised of financial industry veterans including CEO Steve Tumen, COO Kyle Tuskey, Managing Director of Infrastructure Mark Cukier, and Managing Director of IT Services Edward Schmidt. The executives collectively possess more than eight decades of experience in trading, software development, operations, compliance, and infrastructure design to apply to the architecture and optimization of financial technology solutions.

Related articles

  1. Wall Street Confronts Cyber Threats

    The new unit will employ up to 400 high value, experienced and graduate level roles.

  2. Michael Corbat, chief executive of Citi, said partnering with fintechs is the future.

  3. Cyber-Criminals Target Wall Street

    An international search to appoint a successor is underway.

  4. Cybersecurity is Top of Mind for FinServ

    There are network connectivity issues relating to DDoS cybersecurity attacks.

  5. Cyber-Criminals Target Wall Street

    The New Zealand Exchange halted trading in its cash markets yesterday.