Rayleigh Research Oy

Rayleigh Research licenses its trading edge as software. Its AlgoStakes platform, which other quant teams can license, packages full-depth order-book simulation, best-execution analysis, and market making across centralized and decentralized exchanges. The simulation engine reconstructs the book at L3 message-by-order detail, which is what lets it test ultra-high-frequency strategies before they go live.

Founded in Helsinki in 2017, the firm works in deep high-frequency trading and automated market making. It runs lean and pairs its own trading with the SaaS product, also collaborating with outside quantitative researchers and engineers.