Tap and Trade TradeCapture OTC by tum19250



                                               Tap and Trade
                                               TradeCapture OTC
                                               Innovation – Highly Commended

                                                                                                                               to use,” he says.
                                                                                                                                  “When the Apple iPhone came out,
                                                                                                                               we saw all of the functionality that

                                                                                                                               Apple was providing. It was just so far
                                                   S-based software company        a meeting and be looking at their           ahead of any other phone that was out
                                                   TradeCapture OTC has            iPhone and look at a specific trader’s       there on the market that that was the
                                                   taken full advantage of         positions,” he adds.                        one that we adapted it for.”
                                                   developments in mobile              Development of Tap and Trade               The most difficult challenge in
                                        phone technology to produce the first       started three years ago in response to      launching the product was convincing
                                        trading platform application available     frequent calls from traders wanting         managers to take it seriously.
                                        over an iPhone.                            to trade from their phones, says               “You just get people laughing and
                                           The Tap and Trade application           Annunziata. He says he is very pleased      saying ‘that’s just going to be a toy’,
                                        software allows the user to trade          with the initial response to the product.   and when they see that it’s not a toy
                                        and manage risk from wherever the              “Dozens of companies are using          and it’s got all the same functionality
                                        iPhone has reception. It delivers all      it. We’re very happy with the initial       that you can get on your desktop,
                                        the functions of a futures trader’s        response to it,” he says. “What we’re       they’re blown away,” says Annunziata.
                                        desktop machine into their hands as        really happy about is the reaction from        A big concern with mobile
        Innovation – Highly Commended

                                        well as facilitating the risk management   the traders and the risk managers. They     technology has always been security –
                                        function. Essentially, it means the
                                        user can react immediately to market-
                                        changing events when they are away
                                        from their desk or out of the office.                         Risk managers can go in and see
                                           The iPhone application consolidates
                                        multiple exchanges (including
                                                                                                     what the traders are doing. All
                                        NYMEX/CME, ICE and DME), and                                 the trades done at the desktop
                                        multiple products to a single screen,
                                        allowing traders to manage cross-                            flow into the phone. A manager
                                        platform positions and commit trades
                                        to individual exchanges through that
                                                                                                     could be at a meeting and be
                                        single view.                                                 looking at their iPhone and look
                                           The system also contains reporting
                                        and charting capabilities, which can                         at a specific trader’s positions
                                        be viewed easily from the phone using                        Vinnie Annunziata, TradeCapture OTC
                                        touch-screen technology to allow users
                                        to drill into any point along the curve.
                                        It also facilitates straight-through
                                        processing and enables real-time views     put it in their hand and they’re like       the fear that trades done offsite could
                                        of all positions including bilateral and   ‘wow, you just nailed it, this is exactly   increase a firm’s overall risk, or that the
                                        OTC trades.                                what we’re looking for.’”                   phone could fall into the wrong hands.
                                           At a corporate level it allows            TradeCapture’s idea for trading           To address these concerns, Tap and
                                        managers to oversee traders’ behaviour,    software compatible with a mobile           Trade has taken advantage of the built-
                                        their aggregate risk position and their    phone predates the iPhone, but              in security features within the iPhone,
                                        profit and loss (P&L).                      Annunziata believes that the device         and added many of its own.
                                           “Risk managers can go in and            provides the best fit for the product.          Now that they are winning the battle
                                        see what the traders are doing,”             “When we started our company,             to be taken seriously, continuing to
                                        says Vinnie Annunziata, founder            we knew we wanted to go to a global         innovate is how the company plans to
                                        and chief executive officer of              platform and we started doing work on       stay ahead of the competition. There
                                        TradeCapture OTC. “All the trades          the back end of our servers to enable       are several patents pending, and there
                                        being done at the desktop flow into         us to do something like that, but at the    will be more features added to the
                                        the phone. A manager could be at           time we weren’t sure what hand-held         application in the coming months. ■

Reprinted from EnergyRisk                                                                                                                                   June 2010

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