In an exclusive interview with John Lothian News at the FIA’s EXPO at the Sheraton Grand Riverwalk hotel in Chicago, Vermiculus CEO Nils-Robert Persson provided insights into the company’s current state and direction.
Persson discussed Vermiculus’ ongoing projects and completed deals, highlighting the company’s ability to serve clients with microservices and customized solutions.
The conversation also touched upon Vermiculus’ pre-pandemic origins, underscoring its advantageous position during the pandemic, as remote technology discussions by video conference became the norm, saving time and travel costs.
Regarding Vermiculus’ work with the Minneapolis Grain Exchange (MGEX), Persson revealed their remarkable achievement of delivering a new clearing system to MGEX within a year.
He further elaborated on Vermiculus’ real-time risk calculations, conducted in microseconds, in contrast to traditional batch processing systems. He predicted microsecond risk calculations would become the norm in the next few years.
Lastly, Persson addressed what Vermiculus is doing in exchange match engines. He noted that his previous firm, Cinnober, had wanted to build an exchange match engine, but after the Financial Crisis of 2007-08 and the bankruptcy of Lehman Brothers, clearing systems were what the market wanted. Now his team is getting back to building a very fast match engine with lots of functionality.