Patsystems launches mobile access

Trading software designer patsystems has launched a new product that it claims will give traders remote access to all leading derivatives exchanges

'H-Trader' is a handheld remote access trading system that automates crucial parts of the trading process. "[H-Trader] enables derivatives traders or equities traders in any location to trade on exchanges across the globe,” said patsystems. The London International Financial Futures and Options Exchange (Liffe), the Chicago Board of Trade (CBOT), Eurex and the Singapore Exchange (SGX) are among those earmarked for access.

Connection comes via the internet using Compaq iPaq mobile devices. The system shows real-time prices and volumes for best bid and offer, as well as the last traded price. It will also allow traders to put in place stop-loss positions that can be triggered even when the iPaq device is out of communications range – therefore protecting open positions left exposed during times of volatile markets.

David Jones, chief executive of patsystems, said H-Trader will be particularly useful to traders in markets that still have a significant open-outcry operation, such as those in Chicago and Singapore. “However, H-Trader can also be used by professional traders throughout the UK and Europe who have an internet connection or wireless local area network,” he said. Jones claimed the system can be installed in a “matter of minutes”.

US commission merchant Cunningham Commodities already provides its traders with a similar service at CBOT through wireless technology provided by UK derivatives software firm Future Dynamics, called Pocketcrossfire.