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Patsystems to float on electronic tide

Ex-Liffe floor traders find fortune in automated trading systems

When Thomas Theys co-authored the book Capital Markets Revolution last year, he was already keenly aware that a gradual worldwide shift to electronic derivatives trading was going to make him a rich man.

Last week, Patsystems, the company Theys founded in 1996, announced its intention to float on Techmark, the UK's hi-tech index. The company plans to raise between £30m (E49m) and £50m through a share placing later this month, though several observers say that the company is likely to be valued at more than £100m.

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