A new mobile access system links far-flung traders directly into Liffe Connect.

While Liffe technologists busily develop the exchange’s Internet gateway, the technology to provide a totally mobile trading device to use it has already been created. Liffe independent software vendor Communicating Ltd. has developed a mobile version of its XLConnect trading solution for Liffe Connect. In its first release, mobile access was available only via Liffe’s radio LAN, but the latest release of the package makes trading possible via any GSM phone or PCMCIA card.

“I think most people will use the first device by linking into the market via a remote connection to an XLConnect server and gateway in their office,” says Communicating’s managing director Vladan Javanovic. “With the latest version, any method of connection that uses TCP/IP will work. It will also be immediately compatible with the Liffe Connect Internet gateway when it becomes available.”

The package Communicating currently offers uses a Hewlett Packard Jornada 680 palmtop computer and a GSM 900 mobile communications card with a small external stub aerial that fits into one of the Jornada’s PCMCIA slots. The system is capable of roaming, subject to the user being enabled by his or her mobile telecommunications provider, so trading should be possible on virtually a global basis. For those who find a standard palmtop screen too small, the system has also been successfully tested on Vadem’s Clio CE device, due for release in Europe in the next few months. This has a much larger screen that can be folded over the entire keyboard.

At present, Communicating has the market to itself. Potential competitors are using CE devices to subscribe to market data and pull in data and news, but until now users have not been able to trade on the move. The company is also attempting to negotiate a more comprehensive agreement whereby it will be able to offer a package to major clearinghouses. The idea is that the device will automatically connect to the clearinghouse whenever trades are made.

Tony Fricker, the project manager, is optimistic about the prospects. “There are a number of devices that can only subscribe but can’t then do anything with the information without using separate systems. We believe we can take a lot of that market. For instance, we know of at least four banks that are using mobile devices for the subscription side of the operation. We think they will be keen to let their people use a system like ours, which would allow them to interact with those data.”

Trading in various markets isn’t expected to present a problem. “When you start the system, you will be able to select which exchange you want to trade on, but it will be a generic interface so you will be able to trade any exchange-listed product from it,” explains Fricker. “The order can be routed straight to the client’s clearer, who can also provide any risk management functions that are appropriate.” This interoperability is important, since Communicating is hoping to have access soon to Eurex as well as Liffe. The company is already in negotiations with the Chicago Board of Trade, with the longer-term aim of getting the Chicago Mercantile Exchange on board as well.

New Products

Vendor	Product	Contact
FAME Information Services	TIME IQ, the Java implementation of the firm’s 4GL programming-language capabilities for data modeling, manipulation and analysis of time-series data in an object-oriented environment.	Zoe Sochor, 914-591-5599
Kalahari	K.A.C.E. (Kalahari Advanced Calculation Platform), a price-discovery system that prices forward rate agreements, swaps, FX spot and forwards, and options.	Graham Mansfield, 44-1483-756246
Kronos Software Ltd.	Kronos Risk Panel, a cross-platform application that allows users to configure views on key risk measures calculated by the Kronos Risk System. Kronos Web Browser, which provides a front end for remote or infrequent users of the Kronos Risk System.	Scott Stirling, 44-171-739-9272
MINT Communication Systems Inc.	Enterprise Application Integration 5.4, a middleware product.	www.mintech.com
Spheresoft	Spheresoft Highlighter, which enables users to import real-time data from external and internal feeds into Excel spreadsheets. Spheresoft Modeler, an Excel Add-In that lets users enter a value and multiple formulas into each Excel cell.	info@spheresoft.com
Sybase	Financial Server 1.0, a development and deployment infrastructure for banks and securities firms, based on the Enterprise Application Server.	510-922-3500
Synopsys Ltd.	RIMS, a trading, accounting and settlement product for the global capital markets.	Graham Wills, 44-171-250-1990

Alliances, Mergers and Acquisitions

Companies	Description
Altra Energy Technologies, TransEnergy Management	Altra, a provider of electronic trading services, risk and transaction software to the wholesale energy market, acquired TransEnergy, a competitor in the same market.
Infinity, a SunGard company, and Microsoft	The companies announced that Infinity has contributed the Infinity Network Trade Model, a scalable enterprise computing platform, to the Microsoft DNAfs initiative, a straight-through processing initiative that defines XML-based schemas and an interface standard for financial software developers.
Inventure.com, Prophet Financial Systems	The companies announced a partnership that allows users of the Inventure Data Browser direct access to financial market information from the Prophet web site.
Oracle, FTI	The companies announced the availability of an integrated e-business solution combining Oracle’s General Ledger and FTI’s The Box, providing financial institutions with a general ledger integrated with financial transaction activities.

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