TXSE Group, the parent company of the up-and-coming Texas Stock Exchange, announced Wednesday the launch of Oculon Intelligence, an artificial intelligence-powered software platform for market data analytics.
The platform, initially focused on equities and options, will help market participants with regulatory compliance, improve business performance and protect investors, according to a news release.
Oculon will be based in Dallas, tapping into the region’s growing capacity for financial services, technology and data center resources.
“Oculon Intelligence gives market participants the infrastructure they need to turn compliance into a competitive edge,” said Ovi Montemayor, a 20-year financial services veteran who will serve as its president. He was most recently Charles Schwab’s managing director of market and execution services.
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“Our goal is to strengthen trust, transparency, and fairness across U.S. capital markets while helping firms operate with greater precision and confidence,” his statement said.
The exchange highlighted recent changes to U.S. Securities and Exchange Commission requirements in Rule 605 and Rule 606. Last year, 605 ― which deals with order execution quality ― was amended to expand who was required to report relevant information, and what they were required to report.
In a related move, 606 was amended to standardize the reporting format for routing disclosures.
According to Oculon, changes to both regulations will “substantially expand” the volume of data and the number of market participants required to report, which the Oculon platform is built to help address.
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Oculon also tapped David Saltiel, who has held leading roles in the SEC’s Division of Trading and Markets and its Office of Analytics and Research, to be senior vice president.
“The competitive and regulatory environment is evolving quickly. Firms need tools that provide flexibility and the highest level of data protection,” Saltiel said. “Oculon Intelligence is built to help firms adapt to this future and improve market efficiency.”
Sister company TXSE is in the midst of obtaining SEC approval. In a recent interview with The Dallas Morning News, founder James Lee recently emphasized the importance of cutting-edge tech products and rethinking data collection as it looks to win the race for Y’all Street over the existing capital market duopoly of the New York Stock Exchange and Nasdaq.