The Orpheus Story
Orpheus is a fin-tech company specialized in Indexing, Analytics and Artificial Intelligence solutions for the financial services and other sectors. Backed by U.S. patent applications, the RMI® Indices are listed on a US Stock Exchange since 2014 and on Bloomberg. Orpheus Indices have consistently outperformed respective benchmarks at similar risk by a range of 3 to 5% annually. The RMI® methodology is based on ‘Data Universality’, which considers ‘Value’ and ‘Growth’ as statistical ideas rather than fundamental expressions. The methodology combines ‘Value’ and ‘Growth’ in a single investment style with different rebalancing periods. This makes it a unique methodology. Due to its design, the ‘Data Universality’ framework works across asset classes (equity, fixed income, commodities, currencies, and alternatives), Regions (America, Europe, Asia) and styles (active, passive, long-short, tactical etc.). Tralio™ built by Orpheus is a web application, which delivers research, analytics and portfolio solutions to a global audience.
While the world spends resources and time to make sense of information, it passes through stages of relevance and irrelevance. For more than half a century researchers have debated on intelligent systems that can make sense of this information. Nature is an example of an intelligent system, which selects relevant information and ignores the noise. Systems have common properties that are independent of their specific content. Data Universality is a commonality that governs a data set irrespective of its source of generation or derivation, an intelligence that defines the architecture of complexity, allowing the user to understand, anticipate and relate data intra-domain or inter-domains. Data Universality redefines anticipation (predictability) at a system level and connects industries and domain knowledge as never before. This allows the user to identify the relevant information, simplify the complex, understand the mechanism that generates uncertainty and hence manage the risk better.
Tralio™ is a research engine for the global investor who needs trend analysis, performance ranking and portfolio solutions. Tralio™ is also for analytics, queries, research and visuals. Finance is the first application for Tralio™. The platform will cover economics, demographics, sports, sentiments and other domains. The originality of Tralio™ is based on the premise of Data Universality™, which suggests that every natural variable like stock prices, sentiment data, economic numbers, temperature are all driven by statistical laws and share a commonality.
The Risk Management Indices® are based on a universal framework which considers markets as natural dynamic systems with both momentum and reversion forces acting across different holding periods. RMI® not only captures benefits of both growth and value factors in a dynamic, effective construct but also diversifies portfolio risk by generating a different return pattern by diversifying style factor.
Mukul has an MSc. Econometrics and Applied Statistics from UBB Romania and MBA Finance from the Institute of Chartered Financial Analysts of India (ICFAI) Business School. He is a member of the American Statistical Association and a Chartered Market Technician (CMT) from the Market Technicians Association, New York. Mukul started his career as a lecturer of Finance and Economics at Institute for Management Development, India (‘99). He continued to work in the derivatives domain working for top Institutions like Bombay Stock Exchange, HDFC, and Edelweiss before starting Orpheus in 2005. Mukul is a ranked author on the Social Science Research Network and has a few filed patents on data innovation. His work on Value, Extreme(s) Reversion, Data Universality has received global attention on the network. He has been invited to speak at Bombay Stock Exchange, Market Technicians Association, Thomson Reuters Conferences, TED, Princeton University, University of Chicago and other.
Director Global BizDev
Doug has over 25 years of investment management experience in both portfolio management and financial marketing. He started his career trading mortgage-backed-securities at PNC Financial, Pittsburgh and moved to marketing with Beverly Hills based De Laroche & Company promoting diversified asset portfolios. After obtaining his Chartered Financial Analyst (CFA) designation, he joined FMA in Los Angeles distributing high-yield corporate bond portfolios as Senior Vice President of Marketing. In 2006, he joined Research Affiliates driving their smart beta global sales to Boeing, Mexico AFORES, Caisse du Placement Quebec and South Korea NPS. By 2013, Fundamental Index assets had grown to over $100 billion. Doug has been a featured speaker at Inside ETF Europe, Morningstar Europe, and Canada Cup. Doug graduated from California Polytechnic University (‘80) and has an MBA in Finance/Marketing from Columbia University (‘85).
Chief Technology Officer
Dan is the technology brain behind Tralio by Orpheus. Dan has more than a decade of experience in managing technology teams for various global financial service companies. He oversees all technological aspects and provides solutions architecture for Tralio, which delivers data solutions, analytics and RMI Indices to global institutional clients. He leads a team of developers and system administrators who apply and scale new technologies for Tralio’s second phase cross-domain expansion. His project management experience along with his functional background equips him to lead Tralio to the global fin-tech stage. Currently, Dan is overseeing the integration of a machine-learning platform into the Tralio infrastructure.
Ionut has a decade-long experience as a professor of Corporate Finance, Public Finance and Behavioral Finance. He graduated the Faculty of Economic Sciences and Business Administration from UBB, Romania, completed his Ph.D. in Finance in 2006 followed by Postdoctoral studies from Kobe University, Japan in 2010. Ionut has authored many papers and a book on Behavioral Finance. He is fluent in Japanese, Romanian and English. He is associated with Orpheus since 2007 and continues to spearhead the company’s academic initiative.
Elena’s team at Heraldist & Wondermarks powers the digital marketing strategy for Tralio by Orpheus. Before joining Heraldist & Wondermarks, Elena led Coca-Cola Company’s advertising across Eastern European markets on behalf of McCann, as well as Coke’s sponsorship of the Sochi Olympics. Previously, Elena headed marketing communication activities for Pepsico and was awarded Grand Effie, world’s most important recognition for marketing excellence. She has 12 years of experience in advertising and held senior positions with major global agencies such as BBDO, McCann, Ogilvy or Publicis.
Head of Business
Cristina is an MSc. from UBB, Romania. Her area of expertise includes Finance, Econometrics, and Statistics. She heads the business team bridging research and technology. The business team automates the offline research modeling processes. With a background in R Programming and passion for data, the business team under Cristina delivers RMI Smart Beta Indices, Customized Indices, Index Calculation and Maintenance Services to global Institutions. Cristina has led various successful projects at Orpheus including NASDAQ RMI Indices. She currently leads the Orpheus RMI™ listing initiatives across other frontier and emerging market exchanges.
Marina is MSc. in Econometrics and Applied Statistics, with a graduate degree in Finance from UBB, Romania. Her paper on Stock Market Stationarity showcased a new way to look at Group Stationarity. The paper treats the statistic at the group level; overcomes the measure’s limitations in time series data and the problems regarding trend and difference stationarity when it comes to finite data. Group stationarity strengthens the case of markets as a complex system allowing for group behavior mapping. Her pursued research areas encompass the study of statistical measures in a group context, behavior of a group of assets, market dynamics, and Fama and French factors. In her current role, she leads a team of researchers who publish academic work validating Orpheus RMI methodology.
Alexandra is an Economics graduate and MSc. Econometrics and Applied Statistics. She has worked as a Researcher at the Romanian Economic Institute, participated at various global economics conferences. Her focus areas are the Neoclassical Economic Models like the Solow-Swan Growth Model and its extensions. Her postgraduate thesis studied the impact of economic development on the environment using the Kuznets Curve. In her current role, she is applying the Data Universality idea to macro-economic data.
Dacian is a Physicist by training. He completed his Bachelor’s in Electrical Engineering at the Technical University from Cluj-Napoca, Romania. His interest in phase change systems and complex networks got him interested in working with Orpheus. His bachelor thesis, “The Study of Embedded Permanent Magnet Synchronous Motors for Automotive Electrical Propulsion” was judged as one of the best papers from Scientific Students Symposion-2015. His research interests in complex networks and dynamics systems come from his love for mathematics, physics and from his need to understand universal systems and the intelligence that drives them. Currently, he is working on the idea of preferential attachment and detachment in complex networks and how they can be applied in stock market systems.
Anna completed BSc. in Computer Science and is currently pursuing her MSc. studies in databases from UBB Romania. She is a seasoned C# and R programmer proficient in databases like PostgreSQL, Oracle, and MySQL. She is responsible for the performance, integrity and security of Tralio databases. She is also involved in the planning and development of the databases for both in-house quantitative research and global institutional users of Orpheus RMI Solutions.
Victor is a postgraduate in computer science and economics from UBB Romania. He is a web developer, in both front and back-end development. He works with HTML, CSS, JQuery, AJAX, C#, MVC, PostgreSQL and Mongo Database. In his current role, he oversees the data visualization, design, development, and implementation of information delivery solutions for Tralio’s clients.
Partner, Portfolio Analytics
Horatiu graduated from the City University of New York (’03) with an MBA in Finance and Investments. He worked as a CFO for Stellae International NYC, a leading global logistics management company. Since 2007, he has been working as an independent private wealth manager. In his current role at Tralio, he is a part of the portfolio analytics team, which monitors the fundamental position of global equity market equity components for Tralio clients offering them research insights into Intermarket trends and fundamental research.
Technology and Research
Orpheus CAPITALS S.R.L
Strada Traian, No.9, Suite 6,
Cluj Napoca 400046
Orpheus Risk Management Indices
Registered Number 8805118 (England & Wales)
Registered Office: 145-157, St John Street London, Greater London,
EC1V 4PW, United Kingdom