Charm releases dealing system for Dutch traders using Liffe Connect
This week Charm, the Dutch software company that exclusively targets stocktraders and banks, presented Charm Trader. This new package is geared to professional derivatives traders who from November will start trading via the new Euronext system Liffe Connect. Like all of Charm's software, the package was developed for traders by traders.
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The Amsterdam trading system Euronext Switch is scheduled to be replaced at the end of this year by the international trading system Connect developed by the British derivatives exchange Liffe (now a division of Euronext). For many derivatives traders this will be a major challenge after floor trading switched to screen trading in 2001.
Charm has years of experience in the Amsterdam market and its understanding of the specific demands of the trading processes on the Dutch derivatives market gives Charm an important advantage over other international suppliers. In recent months many other local software companies have been taken over by foreign players in this sector's waging consolidation battle. Charm is now the only independent software vendor based in Amsterdam which is fully focussed on financial companies in the BENELUX.
One unique aspect of the current Amsterdam market system is that parties can place orders through to the exchange even prior to being activated in the market screen. Then, at the moment that the trader wants, he can activate these orders with the press of a button, thereby optimising his position. Charm built this unique function into its trading application so that parties can continue to use this handy feature even after the transfer to the Connect system.
In addition the package easily processes order routing, which means that orders from associated brokers (traders who trade through a larger brokerage firm and are not members of the exchange themselves) can easily reach the executing party and subsequently after eventual checks can be passed on to the exchange.
A third unique function is particularly practical with the 'prof-trades' which are often used in Amsterdam. In the Liffe Connect system such trades are only possible with very basic functions. Charm Trader has this built in with complete functionality making it nearly identical to the functionalities that Switch currently offers.
In addition, Charm now offers the sturdy server component "Charm InterFIX" in combination with the very fast Charm Trader. This overhaul makes the Charm Trader a valuable client-server application that can be used on multiple exchanges while maintaining the scalability, stability, functionality and expandibility that were already present in the individual components.