RealTime IT News

UK Company Launches Financial Trading Solution

London-based Millennium Digital Communications has launched an Internet trading solution that allows brokers to establish themselves on the Internet with relatively inexpensive technology.

MDC's trading solution enables "end-to-end" Straight Through Processing (STP) in real-time of foreign exchange, stocks and other tradable products. It has already been tested on both sides of the Atlantic, at sites including one of the largest retail FX Brokers in the U.S.

"With the most functionally rich trading system available, this solution will offer brokers the power to increase their market share at a fraction of the cost and speed of developing their own solution in-house," said MDC director Alan Jones. P> The system makes several real-time user interfaces available to both brokers and their clients. Facilities include real-time price feeds; quote distribution; order placement with stops and limits; position keeping; account summaries; and charting. General business and risk management functions are also available.

MDC estimates the cost of setting up a fully configured solution to be in the region of $10K to $30K. It comes with 24-hour online support services, and, according to the vendor, can be up and running within two weeks.

In association with Electronic Commerce Trade Exchange (ECTX), MDC has an exclusive global licence to promote and develop the new system. For the foreign exchange market, the software's branded product name is "Webforex."