86 posts and columns on trading
News Byte$53 million investment in SR Labs, a company that builds high-performance electronic trading platforms. Founded in 2007, SR Labs serves clients that include hedge funds and investment banks, including Credit Suisse and J.P. Morgan. Its specialty is data gathering and trade execution. Deven Parekh, managing director at Insight, and Martin Angert, a principal at the firm, will join SR Labs’ board of directors as part of the deal.
News Bytewas initially seeking to sell 3.5 million shares between $22 to $25 each. Trading is expected to begin Friday morning on Nasdaq under the ticker symbol “KYAK.”
News Byteten percent under where it closed on Friday, most likely due to lack of underwriter support in propping prices up by exercising the “greenshoe” option.