Mighter, a provider of hardware and solutions for the improved operation and profitability of the world's trading floors, today announced the launch of its new Spot trading keyboard.
The keyboard is designed with SPOT FX trading in mind, but can also be used on any other trading position. The low cost and compact design reduces trading desktop clutter, removing the need for multiple keyboards - emulating all major trading system keyboards and dealing functionality into a single point of control. Built to replicate military specification of +99.99% uptime, downtime on the trading floor is virtually eliminated, increasing overall operational efficiency to help deliver significant bottom-line improvements.
The enhancement to Mighter's successful multi-tasking keyboard, is developed to improve efficiency in the dealing room - by simplifying the trader's desktop and helping them focus on the job in hand. Apart from recouped overheads that come with space saving, the time and money often wasted in laborious efforts to make changes to the dealing room, can be significantly reduced. The flexibility of the SPOT keyboard minimises losses incurred during regular adds, moves and changes - commonplace in today's trading room environment. Hot desking and the keyboard's 'plug-and-play' capabilities eliminate the need for complete desktop reconfiguration for individual traders during a move.
In addition, it can be combined with Mighter's "Contention" unit enabling two users to have shared, contended keyboard control over a common source, such as a Reuters Dealing 3000. This can help to dramatically reduce market data costs. Trading floor managers are also becoming more aware of the associated costs that come with the number of licensing agreements imposed by exchanges. Fees are often applied per-device or unique user ID. Mighter's new offering can also help to reduce these costs by proving to the Exchanges that simultaneous access to different systems is not possible.
"Mighter develops its products with the trader and the trading room manager in mind. With over 20 years of experience advising and supplying infrastructure to the largest trading flooroors in the world, we know where and how to offer cost efficiencies and importantly, what functionality is most important to the trader," said Mike Murton, CEO and founder, Mighter. "The profitability benefits of using a single interface are clear from a trading point of view. However, Mighter also looks at the bigger picture of the dealing room environment. Vast sums of money can be at stake if a trader is out of action or doesn't have access to their market data or dealing systems due to any kind of enforced downtime. This can happen during desk changes or through damaged equipment, such as coffee spills for example. Large sums of money can be lost if these problems are not resolved as quickly as possible. Our plug-and-play hardware doesn't suffer from any 'lag-time' in these situations whereas equivalent systems may need to be re-configured or reloaded. The Mighter keyboard can be swapped out within seconds, which promotes continuity, reliability, flexibility and increased profitability on the trading floor."
The multi-protocol SPOT trading keyboard enables easy and quick switching between Reuters Dealing 3000, Bloomberg, EBS and up to three other devices (PCs or SUN Stations) through the use of six service selection keys. In addition the major D3000 keys (I BUY/ I SELL, etc.) are "Hot" keys. When the trader presses any of these while connected to another service, the keyboard will automatically switch into D3000 mode. There is no need to use a service select key, therefore reducing the time taken to execute a trade if working on a different system. The keyboard fully integrates with the full range of Mighter's Switching and Extender (D3000, EBS, PC and SUN) products. These too are built to the same very high reliability standards, and together can greatly improve uptime on the trading floor.