Prediction Dynamics expands Market Base With New Product, Crucible EngineTools 1.0

DUBLIN, Ireland, July 7, 2004--Prediction Dynamics, a leading provider of quantitative trading software to the financial community, today announced the launch of Crucible EngineTools 1.0. This expansion to the company's product offering provides traders and analysts with the tools they need to build and deploy an unrestricted range of quantitative trading models. Typical applications include high-frequency time-series models, cross-sectional equity models, and derivative pricing models.

"The use of quantitative trading methods is on the increase across investment houses," says Dr John Carney, Chief Technology Officer, Prediction Dynamics. "This is partly due to the recent success of many hedge funds that use such model-driven trading strategies. However, this market is already becoming somewhat crowded and there is a strong appetite amongst quantitative traders to explore alternative methods for enhancing such strategies. In line with this, Crucible EngineTools provides access to a robust nonparametric modeling methodology, while at the same time offering the flexibility necessary to maintain a significant proprietary advantage."

The launch of the product also sees an enhanced version of the InsightEngine(TM), one of the three core engines that make up Crucible EngineTools. This engine provides users with a better understanding of the internal workings of more complex trading models, including so-called 'black-box' models built with nonparametric algorithms. This 'transparency' can reveal hidden dependencies and relationships between market variables, giving traders/analysts valuable insight into their markets and the factors that drive it.

The FactorEngine(TM) enables users to analyze and identify the optimal factor sets that drive a market, even if the relationships between those factors are complex and nonlinear. The third engine, the ModelEngine(TM), enables users to build robust nonlinear trading models, based on the factors recommended by the FactorEngine(TM).

Crucible EngineTools is a flexible, scalable system. Sold as command-line executables, the technology in the EngineTools can be seamlessly integrated anywhere with existing proprietary or off-the-shelf systems. Banks, hedge funds and asset managers can enhance existing trading strategies, without losing investment already made in the development of in-house systems.

About Prediction Dynamics and Crucible (

Prediction Dynamics is a leading supplier of quantitative research and trading software. The company's flagship product Crucible(TM) is a powerful modeling platform that enables hedge funds and proprietary trading desks to build more profitable trading models. Crucible is underpinned by many years of analytical and experimental research conducted by the technical staff of Prediction Dynamics. The software's nonparametric modeling engines can solve a wide variety of quantitative modeling problems across all asset classes.

Crucible, FactorEngine, ModelEngine and InsightEngine are all trademarks of Prediction Dynamics.

Prediction Dynamics
Kate Reid, 353 1 644 9640 

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