UK-based derivatives software house, Future Dynamics has finalised development of a handheld wireless version of its multi-exchange trading tool crossfire. Utilising the Compaq IPAQ PC, pocketcrossfire provides floor traders with mobile access to a/c/e, Globex 2, Liffe, Eurex and Matif exchanges.
The technology is aimed at firms struggling to reduce costs on their floor-based CBoT and CME operations. "Given the fact that there is parallel screen and floor trading in Chicago, we realise that many firms are having to maintain a floor presence as well as an electronic trading environment," says Patrick Thornton-Smith, FD's head of business development.
According to Steve Chivers, VP of USA operations, FD, pocketcrossfire is the first to allow ‘raw’ API connectivity to both local products and global exchanges. "A floor trader in say, the S&P pit, can transact business in the traditional open outcry manner, yet be able to trade directly with other CME, a/c/e, Liffe, Eurex and Matif products all without leaving the pit," says Chivers.
The technology also provides individual traders with a real-time view of their order book enhanced by audio/visual alerts, he adds.
In addition to pocketcrossfire, FD has developed pocketLoad&Go, which provides clearing information, statements, reports etc. remotely via the IPAQ handheld.
Both products will be on show at the FIA Boca Raton Conference (14-16 March), and at FOW Frankfurt (20-21 March).