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.
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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.”