arbitAI Hires Sberbank Veteran As Chief Technology Officer (CTO)

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arbitAI Hires Sberbank Veteran As Chief Technology Officer (CTO)

Prior to joining the tech startup, Chivu worked with Russia’s largest bank Sberbank, where he collaborated with GridGain, a US consultancy that offeres in-memory computing services for big- data systems.

With Chivu’s help, Sberbank was an early adopter of GridGain’s new database technology, enabling it to process an almost unimaginable volume of a claimed one billion transactions per second on computer hardware said to have cost only US$25,000.

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At arbitAI, claims Chivu, “the use of a RAM-based in-memory computing solution will decrease costs while drastically improving performance and scalability”. His vast experience, says Ionut Sarbulescu, co-founder and chief executive officer of arbitAI, “is a crucial advantage for us in reducing latency, thereby improving the speed and efficiency of our algorithms”.

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Before Sberbank, Chivu worked in a similar role in the Singapore office of Virtu Financial, a leading electronic market-maker and HFT firm head-quartered in New York.

HFT firms like Virtu Financial employ sophisticated machine-learning algorithms to seek differences between the various trading prices quoted for listed securities among different market

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