Global Trader 247, a pioneering international financial institution offering a spread trading and a contract for difference (CFD) execution service to both private and institutional clients investing in international and domestic financial markets, was founded in SA in 2000.
The company built the first automated trading system in the world to cover multi-instrument, multi-currency real-time dealing without any broker intervention. With offices in Ireland, SA and Canada, the phenomenal growth is directly attributed to the use of its proprietary world-class technology. Once again, Global Trader 247 is setting the international benchmark in online trading with the release of its latest trading platform.
Through its award-winning Web site, www.gt247.com, Global Trader 247`s trading platform gives clients control over all aspects of their trading. "The breadth of service, speed of execution and usability of the new trading platform surpasses anything I have ever traded on in my 14 years of trading," says Bradley Leather, Head Sales Trader at Global Trader 247.
The trading platform is packed with a host of valuable trading facilities that include everything from order entry and trade execution to real-time portfolio valuation and the automatic risk management services of take profit, stop loss and trailing stops. Clients can have accounts in rands, US dollars, Canadian dollars, euros or sterling and have access to over 100 financial instruments.
Global Trader 247 has shifted from a 100% Microsoft platform to a combination of Sun`s J2EE platform and Microsoft`s 2000 operating and database platforms. "The combination of these two platforms provides for a cost-effective, highly scalable, easily manageable infrastructure," says Jacque Boucher, Technical and Infrastructure Manager at Global Trader 247.
The applet-based trading platform caters for high volumes of simultaneous user interaction and transaction. Socket technology "listens" for any new prices and acts accordingly in determining whether orders should be executed into trades, stops moved or open positions closed out. All trades are `communicated` in real-time to Global Trader 247s risk management system located on servers in its Dublin office. Global Trader 247 then replicates these risk management services to other centres around the world, ensuring that each office is able to evaluate and manage their appropriate risk.
The system has been designed to limit database access with all transactions, thus improving all aspects of performance considerably. Reduced server access provides clients with faster response times. The applet uses security certificates, which provide a secure and trusted channel for clients to trade across. The applet receives real-time prices from Global Trader 247`s centralised market making pricing server.
All information is channelled from the applet through Java`s Servelet technology to the servers. The servers validate all trades according to Global Trader 247s business rules and commit the transaction to a Microsoft SQL Server database. The database has a transaction audit trail that provides easy and accurate accountability for all processed trades.
New instruments and products can be added to the Global Trader 247 suite at any time. Global Trader already offers CFDs and spread trading on a wide range of financial instruments, including stock indices, currencies, commodities, fixed income and equities.
In addition, the system allows multi-level customisation of both the product and service offering, another world first. Global Trader 247 has already used this capability to "white label" its platform through its referral programme into different client bases. For instance, a leading South African online stockbroker offers Global Trader 247 products to its clients through its front-end.
In conclusion, says Charles Savage, Managing Director of Global Trader 247 South Africa: "The technology is designed to deliver tools required to give the private or institutional client full control over his or her trading activities and we work hard to keep ahead of the latest technological innovations and trends, ensuring that we continue to set the pace globally in online trading."
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