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HPR Harnesses Simplicity to Build the Future of Capital Markets Infrastructure

Traders Magazine Online News, January 23, 2019

John D'Antona Jr.

If you trade US equities, there’s a good chance your trades have been vetted by HPR’s advanced risk management technology as, on average, 10% of daily volume passes through their ultra-low latency pre-trade risk and access gateway systems. For the past seven years, the Boston-based company formerly known as Hyannis Port Research has been quietly refining both its technology and operations. Having doubled its revenue over the preceding 12 months and expanding its offerings, HPR believes it is set to move to the forefront of the Capital Markets Infrastructure (CMI) landscape. And if all goes according to their plans, you will soon see the company as the go-to provider for high-performance market infrastructure technology.

In 2018, the firm concluded the full global rollout of its platform, with HPR now active in over 80 markets (notably Australia, where it handles approximately 15% of the market’s equities flow). Soon, HPR also expects to broaden to additional asset classes, with futures and options in the pipeline. The significant market penetration of its Riskbot platform has allowed HPR to go on a substantial hiring spree, tripling its headcount since 2015 with this growth trajectory expected to continue for the next few years.

HPR’s roots are in high-performance hardware. Founder and CEO Tony Amicangioli brings extensive experience in the data communications industry, including stints with Juniper Networks and BBN Systems & Technologies, where he led development of routers, switches and one of the industry's first voice/data multimedia access devices. Before starting HPR, Amicangioli was CTO and managing director at Tower Research’s Lime Brokerage subsidiary, leading the development of its direct market access technology. In between, he founded one of the first cloud-focused startups.

Amicangioli believes his unique, multi-disciplinary background has enabled HPR to innovate beyond the limitations of most technology companies. In his view, the firm’s potent mixture of telecom, cloud and capital markets microstructure capabilities means HPR has gone beyond evolving its products into an array of hardware and software applications and instead has developed a fundamentally new approach to the core enterprise stack.

The key, as Amicangioli sees it, is simplicity. Under his leadership, HPR created Unimus, a core platform that enables HPR to launch new applications efficiently and quickly by providing similar versatility and scalability employed by the big names in cloud computing. Key characteristics of Unimus include a highly-unified infrastructure shared by all HPR products and simplification through drastic reductions in the number of components and computer languages used.

“Unimus can support a user’s entire CMI stack,” explains Amicangioli, who considers the technology revolutionary. “It solves some of the biggest legacy issues in capital markets, which are largely the impediments to efficiencies and performance caused by aging in-house technologies that were never engineered to work in unison. Because Unimus is designed from the ground up, the reduction in the number of systems brings tremendous efficiencies, lowering costs while boosting reliability and speed.”

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