FIA today announced the 10 startups that have been chosen to exhibit in the 2023 Innovators Pavilion, FIA’s annual showcase for fintech startups relevant to derivatives trading and clearing. The Pavilion takes place during FIA’s Futures and Options Expo, which brings together traders, brokers and other market professionals from a wide range of firms in the derivatives industry. The conference will be held on 2-3 October in Chicago.
“We are excited to welcome these 10 startups to this year’s FIA Expo and help them connect with potential partners and customers in the listed and cleared derivatives markets,” said Walt Lukken, FIA president and chief executive officer. “Innovation is the hallmark of the derivatives industry, and this program is a key part of our efforts to support new products, new technologies and new business models.”
The 10 startups were selected by an independent committee of industry experts drawn from FIA member firms as well as venture capital firms focused on capital markets. The startups were chosen based on the innovativeness of their products and services and their relevance to the global futures, options and swaps markets.
This year’s class of Innovators are:
- Automated Data – Platform for reference data matching
- Bond – Overnight facility for client deposits
- Chata.AI – NLP-driven interface for data analytics
- ClearDox – Data translation and normalization for commodities
- CodeComplete AI – AI-powered code completion for enterprise
- Crossover Markets – Institution-only trading venue for digital assets
- Cumulus9 – Margin estimation and forecasting engine
- Entelligent – Climate data processing and impact prediction
- Sigma Financial AI – AI-based analytics for traders
- Tradefeedr – Network for sharing execution performance data
“This year’s group includes startups focused on many different potential applications, including artificial intelligence, climate risk, cryptocurrencies, commodity trading, collateral management and data analytics,” said Will Acworth, FIA’s senior vice president of data, publications and research. “I want to thank the members of the selection committee for their work in sifting through the applications and choosing such a highly qualified and diverse group of startups for our program.”
This year’s selection committee included experts from Akuna Capital, Barclays, Chicago Trading Company, Citadel Securities, DRW Venture Capital, GH Financials, Illuminate Financial, IMC, Optiver, Peak6, Société Générale, and Two Sigma.
As the leading trade association for the listed and cleared derivatives markets, FIA has worked for decades to promote advances in the trading and clearing of derivatives. The annual Innovators Pavilion has become a core element of FIA’s commitment to accelerate the adoption of fintech solutions in these markets.
Each year FIA invites a select group of fintech startups to showcase their solutions for the derivatives industry at the FIA Expo, the industry’s largest trade show. Since the first Innovators Pavilion in 2015, more than 150 startups from around the world have participated in the event.
Each company in this year’s Innovators Pavilion will receive a free booth on the trade show floor and the opportunity to demonstrate their innovations to conference attendees. Each company also will get a chance to pitch their solutions directly to attendees at Expo, including senior executives from exchanges, clearinghouses, banks, brokers and trading firms.
At the conclusion of the Expo conference, FIA will announce the winner of the “Innovator of the Year” award. The winner will be determined by a group of judges drawn from representative segments of the derivatives industry. FIA also will announce the winner of the “People’s Choice” award, which will be determined by votes cast by Expo attendees.
Last year the winners were BeZero Carbon as the FIA Innovator of the Year, Clouty as runner-up, and Kemet Trading as the People’s Choice award winner.
