App Store for Traders Launched
December 20, 2011
Trading technology provider UNX has launched a financial software store where financial firms can download anything from algorithms to research.
UNX says that the new “Catalyst Marketplace” also will encourage developers to build applications for UNX’s open architecture trade execution platform, Catalyst.
The announcement follows UNX’s launch of a developer center website where users of Catalyst can customize plug-ins and update such offerings as algorithms without having to involve UNX’s development team.
For example, NYSE Technologies, the technology arm of NYSE Euronext, is using Catalyst’s software development kit to customize content and services for the global trading community.
Users of the “Catalyst Marketplace” may or may not pay a fee for software, depending on the software distributor. Among the types of applications are algorithms, advanced analytics, investment research, financial quotes, news and charts. UNX will also earn fees from the software, news and data providers.
Here are just three of the uses of the App Store highlighted by UNX: a hedge fund trader can access research and news available in multiple applications from different brokers and research providers; a brokerage firm quickly can offer its clients access to changes in algos; and software entrepreneurs can sell their apps without expensive marketing or public relation campaigns.
“UNX’s model of an open marketplace nurtures and promotes technology innovation without the customary limitations,” says Thomas Kim, UNX’s chief executive officer. “Providers benefit from joining UNX Marketplace because it offers worldwide distribution – enabling them to better monetize their products and extend services to a broader client base.”
UNX cites QSG and Titan Trading Analytics as two of the providers offering advanced trading analytics through the Marketplace, and Zachs Research as one of the investment research providers.
