CMS shares soar on ProphetX sales

CMS shares soar on ProphetX sales

Shares in AIM-traded CMS Webview have soared on news that the company has signed 12 corporate clients to ProphetX, the market display and trading system for energy and commodity traders which it sells under exclusive license from DTN Market Access.

In the three months since winning the UK distribution license for ProphetX, CMS claims to have made sales to 12 firms, including Fortis Bank and Olam International, as well as Vitol and E.D & F Man.

ProphetX, priced typically at £200 per month, is a professional real-time market display and analysis product for commodity traders. It has already established itself as a popular product in the US, with over 3000 terminals sold.

CMS estimates the target market for ProphetX to be worth £200 million per annum in Europe.

CMS shares rose by 96% on news of the contracts to 6.12 pence overnight, slipping slightly in early morning trading to 5.75 pence.

Before its MBO in 1997 and a listing on AIM in 2000, CMS WebView was a subsidiary of the London Commodity Exchange and then Liffe.

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