Financial Networking Company Prepares for ‘Post-Quantum’ World
Summary
When it comes to cybersecurity, no one can accuse IPC Systems Inc., the New Jersey-based company that builds communications networks for trading firms and financial markets, of preparing to fight the last war. A few financial firms, including Goldman Sachs, Royal Bank of Scotland, CME Group and Guggenheim Partners are evaluating quantum computers and their potential impacts on algorithmic trading and portfolio management. The company also sells file encryption software that works by breaking a master decryption key into parts and distributing these -- for instance, one might go to a financial firm’s customer, while another might go to a regulator. Cheng said that when Post-Quantum first began pitching its encryption technology to potential clients, he was routinely laughed out of the room by those who thought quantum computing was a joke. Post-Quantum received 8 million pounds in funding in July from VMS Investment Group, a private equity firm based in Hong Kong, and AM Partners.
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