Accelerate commercialization of its algo-trading technology
HONG KONG SAR 18 July 2024 – International Genius Company (“IGC” or the “Company“, together with its subsidiaries, the “Group“; stock code: 0033.HK) announced a business update: the Company’s Subsidiary, Deep Neural Computing Company Limited (“DNCC“), entered into a Cooperation Framework Agreement with Confiprosper Fintech Limited (“CFL“), a Hong Kong corporation. The Agreement aimed at leveraging the Group’s expertise in algo-trading technology to enhance asset management services provided by CFL and its cooperative partners.
The Cooperation included:
- Trading Technology Licensing: The Group extends to CFL a non-exclusive, non-transferable licensing to utilize the Group’s trading technology for asset management business with a series of funds to be set up by CFL;
- Technical Support and System Integration: The Group commits to providing software and hardware supports, ensuring seamless integration with CFL’s operational infrastructure and enhancing operational efficiency;
- Business Cooperation: CFL, through its network of cooperative institutions and high-net-worth clients, will collaborate with the Group’s trading technology for business cooperation (contingent upon successful technology integration);
IGC is committed to enhancing its professional investment research capabilities and trading technology, and willing to license its technology to CFL for use and is interested in conducting in-depth cooperation with CFL in areas such as asset management, trading system optimization and customer development. Earlier, the Company has entered into a memorandum of understanding with Saxo Capital Markets HK Limited (the subsidiary of Saxo Bank A/S), which aims to encourage and facilitate bilateral technical collaboration on the issues of trading technology licensing and asset management cooperation.
The management believes that the cooperation could facilitate the Group’s business development by further enhancing technology development and expanding its trading technology to a global scale, to broaden the Group’s revenue source, enhance performance of the Group and create value for the shareholders of the Company.
