A new Okanagan-based tech company says it has created day-trading software that will help financial institutions with little to no experience in the area.
“The algorithms we are building are strictly day-trading algorithms and are fully automated,” said Brian Shepard, 7 Cheetahs Trading Inc.’s CEO and founder.
“There’s a lot more to be done with the software. We are kind of early days but it is delivering consistent results.”
Shepard left his job five years ago with dreams of entering the financial world.
“I always had interest in the stock market, and with extra time, I did a lot of research,” he said.
“And matching my background in technology and my interest in the financial markets, I started developing software.”
The company is backed by around a dozen investors, he said.
“One of the main reasons they invested into the business is because they have significant capital they want to deploy with the algorithms.”
Shepard said their new trading system allows for funds to grow with little to no work.
“It (will) make trades on the clients’ behalf and they don’t have to do anything. It’s not a tool for people to use, it’s a system,” he said.
“They are hands-off and don’t need any experience with day trading.”
The new stock trading company is a prime example of the growing tech industry in the Okanagan, according to Accelerate Okanagan, a non-profit that helps support tech entrepreneurs.
“I think it’s really neat to see that there’s a company here that’s having that much of a global impact,” said CEO Brea Lake.
“The current Kelowna landscape for Okanagan tech is about a $1.7-billion annual impact with about 700 companies working here.”
“It’s one of the fastest-growing tech regions in Canada.”
With 7 Cheetahs up and running, Shepard said it’s a dream come true watching his idea become a reality.
“Super exciting times. This is the type of business that scales really well,” he said.
“It doesn’t matter so much if it’s $1 million, $10 million or $100 million that’s deployed, (it will produce).”
Editor’s note: This is a corrected story. A previous version identified the company’s product as an online system, when it is in fact a computer algorithm.