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KRM22 makes first acquisition

It is paying up to £2.3mln for a 60% stake in in Irisium, a specialist in market surveillance technology

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Irisium's platform can follow high frequency trading, which is behind flash crashes

Serial entrepreneur and former Marconi CFO, Keith Todd’s new stock market vehicle has made its first investment, taking a stake in a business developing technology the City’s regulators might find helpful.

Todd’s KRM22 PLC (LON:KRM) is acquiring 60% of Irisium Ltd, which creates and sells turnkey market surveillance system.

Not only can Irisium’s systems track “traditional market abuse scenarios”, it is also able to monitors complex trading patterns and relationships and high frequency trading (HFT).

HFT is notoriously difficult to follow as big deals can be transacted in milliseconds. However, the practice, commonplace in the US, can lead to flash crashes.

KRM22 is paying up to £2.3mln for its holding in Irisium.

Quick facts: KRM22 PLC

Price: 38 GBX

AIM:KRM
Market: AIM
Market Cap: £10.15 m
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on 10/5/18

2 min read