John Lothian News interviewed Stanislav Ermilov of Tallarium about a March 2023 fundraising round that saw it raise funds from XTX Markets and venture capital firm Reciprocal. We talked to Ermilov about Tallarium’s plans for the funds. Tallarium aimed at the listed exchange energy business; this investment helps the company improve its technology and scale its business, Ermilov said. He wants to make a substantial investment in product development to grow the company across a range of markets, he said. Tallarium will expand across the energy complex with this investment, he said.
People are the most important asset for the company, he said, so Tallarium is looking to expand the core team across products, sales and marketing. Ermilov, the founder and CEO of Tallarium, said the firm was looking to add 25 to 30 people in the coming months.
One priority is developing a product for pre-trade price analytics for Tallarium’s execution functionality, and the others are a voice product and data feeds, he said.
Ermilov discussed the value of the XTX Markets’ investment, including its non-financial contributions of input and feedback on Tallarium’s products. He said XTX was interested in machine learning and AI and the capital markets aspect of the investment.
JLN asked him how the Ukraine war has affected interest in Tallarium’s type of technology. He said there is a big firehose of information that traders are experiencing during the volatile wartime energy markets and Tallarium’s technology helps them control that information.
JLN asked him what other markets outside of energy Tallarium is interested in developing products for and he mentioned freight and base metals, noting there is a lot of OTC activity and a lack of transparency in those markets.
JLN asked him what is the strategic direction for the product and Ermilov gave an expansive answer.