A B Watley Group is to begin moving clients over to its new Ultimate Trader II proprietary direct access technology platform.
The move to a proprietary trading platform will have a significant impact on the company's overall profitability believes CFO Joseph Ramos, not least through the elimination of third party software licensing and data service fees. "Based on our latest quarterly results, the company would have posted a profit of as much as $0.11 per share had we been using our own UltimateTrader II. Going forward, we anticipate continued improvements in profitability as we move to a fixed cost structure and begin the process of actively pursuing licensing agreements."
A B Wately chairman and CEO Steven Malin says the company has already entered preliminary discussion with potential licensees. "We are confident that we will sign agreements with numerous online firms in the coming months," he says. "Since our platform is a Unix based Java software suite, running on the Sun Solaris platform, we have the ability to scale more efficiently and economically than the NT/PC based products."