Software developer OpenTrade is recruiting resellers for its out-of-the-box trading room, OpenTrade Compact.
The product is a packaged selection of OpenTrade software components for entry-level trading rooms. It supports up to two real-time digital market data feeds and up to 25 OpenTrade TradeWizard workstations.
Tony Kingston, marketing director for OpenTrade, said that while there were other similar products on the market, none were being sold indirectly. The company offers a 24-hour helpdesk. Kingston said: "It's unlikely that resellers would need to add anything beyond frontline helpdesk support."
Kingston said the product was a way for resellers to get a foot in the door of financial institutions. "Compact gives resellers a high-profile position in banks. The trading room is very high-profile. If they succeed in that particular area, resellers can move into others," he said.
OpenTrade has not yet signed any resellers in the UK, but hopes to find both small resellers in the vertical market and a few large ones that work with a broad range of companies. Kingston also suggested that OpenTrade was interested in looking at pan-European partners as well.
While Kingston admitted that OpenTrade did sell directly to larger institutions, he claimed: "We are very careful about channel conflict."
Although the Compact software package is geared towards banks and financial institutions, the underlying product, business messaging platform Orbita, has the potential for use in various industries.
Kingston said: "In 18 months to two years we'd like to extend the applications of our software across other vertical markets."
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