Teza’s founder, Dr. Misha Malyshev, is a scientist by training with a Ph.D. in Astrophysics. After working in plasma research at Bell Labs, Misha went on to apply this scientiﬁc expertise to ﬁnancial markets at Citadel where he built from scratch a modern high-frequency trading (“HFT”) operation. He is widely considered one of the founding fathers of HFT, having generated exceptional returns at Citadel, culminating with a $1.0 billion trading proﬁt in 2008.*
Misha went on to found Teza as a proprietary HFT firm, where he built out a team of talented scientists and investment professionals. From 2009-2016, Teza became one of the most successful HFT shops, achieving the fastest tick-to-trade measure in the industry (190 nano-seconds) in 2016.
As the Teza team developed a robust library of signals, home-grown microstructure signals significantly outperformed more traditional quant signals, prompting the firm to focus resources on microstructure signal research. By 2019, the firm was ready to launch a multi-strategy built on Teza’s competitive edge – microstructure signals – complemented by other market impact-related signals.
As Teza’s asset management business has grown, the team continues to apply its systematic process and microstructure capabilities to new markets. Teza now operates a robust multi-strategy platform, with quantitatively-informed digital assets strategies complementing core global futures and stat arb strategies.
Dr. Malyshev personally supports STEM education initiatives and is on the global leadership council of buildOn, an international non-profit organization that runs youth service after-school programs in US high schools and builds schools in developing countries.
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