CMS WebView shares rise on ProphetX sales

CMS WebView shares rise on ProphetX sales

Shares in market data technology vendor CMS WebView, rose 16% on news that the company signed five new clients to its ProphetX service during December 2003.

ProphetX is a market display and trading system for energy and commodity traders which CMS sells in the UK under exclusive license from DTN Market Access.

Shares in CMS WebWiew were up 15.69% to 14.75 pence during early trading.

The company has signed up 20 companies to ProphetX since winning the UK distribution licence for the system in July 2003. CMS says a growing number of private traders are also signing up for the terminals. Buouyed by the early success of ProphetX, CMS WebView raised £2.5m from a share placing in December.

Bob Antell, chief executive, CMS WebView, says corporate clients are using ProphetX to trade energy, agricultural and tropical commodities while private clients tend to use the product to trade financial futures contracts: "With the new money we've just raised, we're now able to expand our marketing presence in these particular sectors in 2004."

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