Cunningham Commodities has gone live on the floor of the Chicago Board of Trade with Pocketcrossfire, a handheld trading application from UK derivatives software house Future Dynamics.
Pocketcrossfire allows clearing firms to take advantage of their floor presence while maintaining electronic access to commodities exchanges worldwide.
The device offers real-time trade executions with global exchanges, relevant market information such as market prices, order flow and market depth, real-time global order book and position information, and up to the minute cash and position risk management.
Bill Cunningham, president of Cunningham Commodities, comments: "The advantage Pocketcrossfire delivers is within its execution functionality...While most handheld trading devices direct trades through complex order routing systems, Pocketcrossfire delivers ‘raw’ electronic trade execution directly with the exchange - sharing a common platform with both Internet and office-based clients."
Currently, Cunningham Commodities runs Pocketcrossfire on the Compaq Ipaq handheld PC. The device allows traders to access a/c/e, Globex 2, Liffe, Eurex and Matif exchanges electronically, thus trading globally and executing locally.