About

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.

Teza began to expand its pursuit of alpha to longer time horizon signals in 2014. After extensive research & development and promising results, Misha decided to build a quantitative hedge fund, designing strategies that could provide institutional investors with diversiﬁcation and persistent alpha. The ﬁrm sold its HFT business in 2017 but maintained the associated datasets, colocation infrastructure, and technical expertise.

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.

Our Culture

Teza believes in an open, diverse, and collaborative culture. Teza’s team members collectively originate from over 15 countries, graduated in nearly 30 distinct university majors and 20 Masters/PhD specialties, and speak over 15 different languages. We firmly believe that diversity enables us to see problems from multiple perspectives and to develop superior solutions.

We foster innovation, but always examine it with rigor and a scientific mindset. A core value at Teza is that we are extremely data driven and the best idea wins: no emotion, sentimentality, or pride should ever override a data-driven decision.

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.

About

Our Culture

Austin

Chicago

New York

Shanghai