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Vertical Applications
- Financial Industry -

Stock Trading

  • Hand-held PDAs connected to wireless networks, accessing information from Stock Exchange servers
  • Wireless mobile computing trading from Palm and Pocket PC by large active investors

Details...
In Stock Exchanges
: The New York stock exchange has made a significant change to the classical methods used by traders in the past. No longer do stockbrokers clutching pieces of paper race to phones to collect orders; now they tap away at hand-held PDAs connected to a wireless network, accessing information from HP servers. The two-year pilot was begun in 1995.

It is critical to provide to stock traders with as much information as they require to close a sale as quickly as possible. Chicago Mercantile exchange installed a wireless pilot-project for mobile computing trading in 1996. It was called AUDIT (Automatic Data Input Terminal). The roll-out of 5000 traders with wireless PDAs started in 1996.

Sales Force Automation - More and more brokers are equipping their sales force with wireless-enabled devices for accessing corporate information of their clients and their stock portfolio

Brokerage Houses to Consumers: Recently, with the proliferation of the Internet, several stock trading information content providers have started offering most current stock prices to their premium customers on their palm pilot organizers and other CE-compatible devices.

Various Wireless Stock Trading Services (Mid 2000)

  • Ameritrade offers trading via Palm™ VII and Palm™ V organizers with OmniSky service.
  • Bank of Montreal, Veev™ wireless banking service, offers banking, investment and lifestyle services via Bell Mobility or TELUS Mobility service and phone with a Phone.com UP Browser.
  • Bank of New York’s broker dealer affiliate, BNY ESI & Co uses SmartServ Online wireless application.
  • Charles Schwab & Co. offers its PocketBroker service via Palm IIIx and Palm Vx, with RIM’s Blackberry to follow.
  • DLJdirect’s DLJdirectAnywhere™ is accessible via a wide range of wireless devices, including Web-enabled cell phones, RIM two-way pagers, Palm VII organizer.
  • Discover Brokerage offers TradeRunner using Palm III or Palm IIIx.
  • E-Trade Group Inc. offers E-Trade Everywhere service.
  • Fidelity Investments offers InstantBroker via a variety of wireless devices, including RIM Inter@ctive pagers, Palm VII handhelds and Web-enabled phones.
  • J.P. Morgan offers SynDirect™ Wireless using Palm VII handheld in the U.S. and WAP-enabled phones in Europe and Asia.
  • Morgan Stanley Dean Witter’s offers TradeRunner on Palm III and Palm IIIx.
  • Quick & Reilly, the discount brokerage division of Fleet Boston Financial Corp., offers wireless trading over Palm models, Nokia cell phones and RIM’s Blackberry devices.
  • TD WaterHouse Group, Inc. offers webBroker Wireless on iPaq Pocket PC. It offers devices and service free-of-charge to company's top 5000 customers. Soon installing handhelds across branch and field offices. Chose Pocket PC because TD Waterhouse is a Microsoft-centric shop. TD Waterhouse developers created HTML interface to fit iPaq's smaller screen.
  • w-Trade Technologies, a company that has assisted many e-tailers and online banks and brokerages to incorporate wireless trading, including:
    • The Wall Street Discount Corp.
    • 1800DayTrader.com
    • Dreyfus Brokerage
    • Firstrade
    • InvestIn.com Securities
    • Investrade
    • Merrill Lynch & Co.
    • MostActives.com
    • Mydiscountbroker.com
    • SURETRADE
    • WinTrader.com
    • R.J. Forbes
    • Scotttrade

Royal Bank of Canada, Bank of America and Citgroup are expected to launch wireless services in the summer of 2000.

 


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