Mobile-led retail platform technology from the institutional sector as CME embraces Apple Watch, adds QuikStrike to mobile apps

For a number of years, retail FX brokerages have become absolutely reliant on mobile technology in order to engage traders and drive volumes up by removing the static nature of trading platforms and placing the ability to trade into the hands of users at all times. Due to its very nature, the institutional and commercial […]

CME embraces Apple Watch, adds QuikStrike to mobile apps

For a number of years, retail FX brokerages have become absolutely reliant on mobile technology in order to engage traders and drive volumes up by removing the static nature of trading platforms and placing the ability to trade into the hands of users at all times.

Due to its very nature, the institutional and commercial trading sector has not followed suit, largely due to the nature of the business in which professional traders, working for large companies which employ HFT and algorithmic practices to trade proprietary accounts sit at desks in the heartlands of Chicago or New York.

Many proprietary trading companies and professional investment managers operate in a manner that is completely contrary to the way in which retail trading is conducted, that being that instead of encouraging trading at all times regardless of location, firms which employ traders often ensure that the traders do not access the systems outside of their working hours, thus negating any need for mobile platforms.

Research conducted by Andrew Saks-McLeod three years ago demonstrated very little drive toward the development of mobile institutional platforms which offer full trading functionality for this exact reason, and the professionals of Chicago and New York often relied on mobile platforms for data aggregation, messaging and analyses, using third party solutions such as Thomson Reuters Eikon, or Bloomberg Terminal.

CME Group looking toward empowering retail traders?

Today, things are somewhat different, especially with regard to how the large exchange technology companies and derivatives venues such as CME Group Inc (NASDAQ:CME) are now actively furthering the development of fully functional mobile devices, with every trading functionality integrated into multi-device platforms for handheld tablets, smartphones and wearable technology.

Why would CME Group develop full trading functionality for Apple Watch and tablets? Both devices are the preserve of retail traders, not employees of proprietary trading firms or algo traders.

It may well be worthy of consideration that CME Group is another institutional venue looking to further its reach toward retail traders.

Two weeks ago, at the FinTech Exchange 2016 event in Chicago’s institutional electronic trading heartlands, a very distinct pattern had become evident in that companies across the entire spectrum, from market data to trading platforms connected to North America’s most prominent venues, retail customers are well and truly on the agenda.

CME Group’s new addition to its product range as of today, includes the company’s QuikStrike set of options valuation tools to the company’s mobile applications.

graphic-apple-watch

The QuikStrike tools, which include data on active strikes, volatility, open settlement, commitment of traders and open interest profile, are now fully live on Android and iOS devices, and can be syncronized with CME Group’s Apple Watch application.

Taking a look at the way in which CME Group angles its Apple Watch application toward its audience, further allusion to developing its retail audience is apparent.

Whilst trading cannot be performed from the watch, only from the mobile or desktop devices, CME Group specifically points out that the rationale behind the Apple Watch application is to provide updates on portfolios without checking a handheld device. This language is clearly aimed firmly at retail traders with exchange traded options portfolios.

As America’s giants continue to innovate, technology and access to trading environments that have until recently been the preserve of the professional are now increasingly making it into the hands (or onto the wrists!) of retail traders.

Images courtesy of CME Group

Read this next

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading

Technology

DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.

<