In this CCTV video, Alberto Alonso from GACS describes his new supercomputer, Breogan, that has the ability to modernize Mexico’s antiquated stock market.
“Since it was launched in February, the Breogan computer has generated $475,000 for his company. The algorithm it uses is much faster than the computers in Mexico’s stock exchange. What makes the Breogan computer so unique, is that it finds attractive opportunities in the market and it buys and sells automatically when it sees a trading opportunity. In many cases, traders in Mexico’s stock exchange still use the phone when making transactions. One of the reasons the machine has been successful is because of the volatility of the peso. Mexico’s currency is weaker than the dollar and the stock exchange allows people to buy American company stocks in pesos.”
Alonso hopes to attract new customers from Mexico’s brokerage firms. Priced around $350K USD, Breogan “costs a fraction as much as traditional server clusters from commercial firms.”