Online investing solutions provider Reality Online Inc. yesterday launched TradePort to open up the online brokerage market.
In an attempt to reach beyond the high-end brokerage market, Reality Online designed a very packaged turnkey solution, according to John Tucker, senior vice president, marketing.
“It is a new step for Reality Online away from what we have traditionally built in the lines of online investing,” he said.
Targeting small to medium sized companies with less than 4,000 accounts per broker, but up to 25,000 accounts, TradePort bundles account access, trading and other market data with a broker-configurable user interface. Additionally, the TradePort solution includes Broker Build, a Web-based tool allowing brokers to navigate through online templates and create a branded user interface, including their own logo and choice of color scheme, menu options and content.
When asked how TradePort would fit in among companies such as E*Trade, Schwab and DLJDirect, John Halko, president, justified the distinct difference between those companies and TradePort.
“All three built their own solutions from scratch-they are exactly the type of people who don’t want TradePort,” he said. “TradePort put the small firms in the same ring.”
Reality Online works with the broker dealer’s service provider to bring the TradePort service online. Implementation time is under a month, according to Doug Sutherland, vice president, hosting services.
“TradePort helps small to medium businesses compete with the E*Trades of the world,” he continued. “Designed to offer the distribution channel needed, TradePort can help these companies compete on almost equal footing.”
Reality Online hopes to be in the 300 customer range in the next 12 months, with plans to announce some customers shortly.
There is a small up-front fee for TradePort, according to Halko, in the $30,000 range. Monthly basic service is $5,000 and covers up to 4,000 users. The fees increase as the client purchases more features.
Reality Online Inc. was founded in 1987, building business simulations, moved into the desktop business and in 1995 concentrated its efforts on online investing only.
