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Entrepreneur aims to shake up currency trading

Thursday, December 27, 2012 - 02:34

Dec. 28 - Danish entrepreneur Jannick Malling, CEO of Tradable, has created what he's calling the world's first open trading platform. It allows currency traders to customise their dealing suite by downloading apps. Analysts say the platform could interest retail investors, especially in Asia. Joanna Partridge reports

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UPSOUND Trading - the traditional way. Commodities have been bought and sold like this at the London Metal Exchange for over a century. Even though most other financial trading has gone online. And Danish entrepreneur Jannick Malling says he wants to shake up currency trading. He's CEO of Tradable - which he says is the world's first open trading platform. SOUNDBITE: Jannick Malling, CEO of Tradable, saying (English): "It's that easier for the trader really to customise his own experience, whereas today of course he's sitting typically with 10 different screens, monitoring." The platform's intended for trading currencies, and some commodities. Apps created by developers are available in an app store. Some are free, some cost. The trader then downloads the apps into their workspace so they can build their own dealing suite. SOUNDBITE: Jannick Malling, CEO of Tradable, saying (English): "We are seeing an uptick in what we call fintech firms, so financial technology firms around the world, that are more looking to do specialised finance and financial trading tools, that's definitely one of the reasons because you don't acutually need millions of users using your app before you can you know create a steady income." Tradable is already being used by brokers. Jannick says it's aimed at professional and retail investors. One of the apps on the platform is Dealer Insight. Maurice Pommery is the CEO. For $150 a month, it supplies users with news and market rumours, to help their trading. SOUNDBITE: Maurice Pommery, CEO of Dealer Insight, saying (English): "This is purely offering them the information that is moving markets, and it's then their choice to make their decisions. But it's a lot easier if you know or own more pieces of the jigsaw, and realistically the retail market up until now has been guessing what is going on outside of the headlines." Rik Turner, a financial markets technology analyst at Ovum, imagines platforms like Tradable will appeal most to individual investors. And that means it could really take off in Asia. SOUNDBITE: Rik Turner, Senior Analyst for Financial Markets Technology, Ovum, saying (English): "There the retail investor is far, far larger a part of the overall market, and they're all mobile mad. I mean that's a great simplification, but the degree of concern about mobile technology is so much greater over there." Mobile trading isn't new. But platforms like Tradable may be the next step - as technology opens up the markets for fledgling investors around the globe.

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Entrepreneur aims to shake up currency trading

Thursday, December 27, 2012 - 02:34