Okanagan tech company creates day trading software algorithm
Day-trading software, according to a new Okanagan-based tech business, will assist financial institutions with little to no prior expertise in the field.
According to Brian Shepard, the CEO and creator of 7 Cheetahs Trading Inc., “the algorithms built by this company are strictly day-trading algorithms and are fully automated.”
“There’s a lot more to be done with the software. We are kind of early days but it is delivering consistent results.”
Five years ago, Shepard left a job and started reaching for his dream, matching his interest in finance with his background in technology.
“I always had an interest in the stock market, and with extra time, I did a lot of research,” he said.
He claims that currently, about a dozen investors support his company.
“One of the main reasons they invested into the business is because they have significant capital they want to deploy with the algorithms.”
According to Shepard, their new trading technology increases money with little effort.
“It (will) execute deals on the client’s behalf, so no action is required on their part. It’s a system, not a tool for people to employ,” he declared.
They don’t require any day trading expertise and are hands-off.
According to Accelerate Okanagan, a non-profit that assists in supporting digital entrepreneurs, the new stock trading firm is a shining example of the expanding tech economy in the Okanagan.
Brea Lake, the company’s CEO, claimed that “it’s really neat to see that there is a company here that is having that much of a global impact.”
The Okanagan IT industry now employs around 700 enterprises in Kelowna, with a $1.7 billion yearly effect.
It is one of Canada’s tech hubs with the quickest growth.
Shepard said it’s a dream come true seeing his vision become a reality now that 7 Cheetahs are operational.
“Super exciting times. This is the type of business that scales well,” he said. “It doesn’t matter so much if it’s $1 million, $10 million, or $100 million that’s deployed (it will produce).”