Online financial information provider McGregor BFA has launched a real-time investment solution aimed at South African businesses.
The tool, JRAID, cost McGregor BFA R1.5 million to develop and took an eight-man team five months to create.
Business development manager Dan Farr, who headed the product`s development team, says JRAID is the company`s first venture into the real-time online market.
"We have been very strong in fundamental, historical analysis," he says. "While this is exceedingly important for the financial industry, the launch of JRAID signals our entry into the real-time market, thereby enabling us to provide our clients with the best of both worlds."
The tool provides a wide range of real-time financial data, such as information on the local bond market; international currencies and indices; major metal prices; intraday real-time graphs; and international news, which is piped via 40 international news wire dailies.
It also provides brokers with forecast consensus and recommendations for a three-year period.
Farr says users will also be able to customise the database to suit their own requirements, such as setting parameters on share prices. If a share price goes above, or below, these pre-determined parameters, the investor is automatically warned by the system.
"JRAID is one of the most important product announcements to come from the McGregor stable. It allows us to offer a comprehensive real-time service to our growing customer base.
"Up until now all our software applications have been resident on other people`s servers, but now users can access JRAID from anywhere if they have an Internet connection. From one central application users will be able to link to any of the company`s financial database offerings, such as RAID Africa, RAID Top CO, RAID Word and RAID Station."
Farr says that besides being transparent, users will also be able to move seamlessly from one database to another. "With the launch of JRAID we will be running from one front-end - and this front-end will be entirely Internet-driven."
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