Peterevans launches iPhone app for share dealers
A leading provider of back-office software to financial services companies has launched an iPhone application for traders to manage their portfolios on the move.
Peterevans, based in Wales’ capital, Cardiff, has recently launched xanite wave – the UK’s first stock management application for iPhone users, which will allow them to buy and sell stock at the touch of their keypad.
The encrypted app, which has been taken up by start-up company Simply Stockbroking, which will launch it under the brand name “Simply”, will allow active traders to manage their financial portfolio through the app that has been authorised with their stockbroker.
The app, which is available for download from the iTunes App Store from today and is free, links directly to the back office of stockbrokers which updates the portfolio in real time.
Now peterevans is poised to roll the application out to other brokers keen to cash in on new technology mediums.
The company’s core business is in providing back-office software systems, which they sold directly to financial institutions such as HBOS and online execution-only stockbroker Self Trade.
And despite what the company called a “challenging” 2009, it is on course to exceed expectations in 2010, forecasting “considerable” growth and has recently closed a major deal that will be announced in early June.
Managing director Dr Mike Foley said: “We are looking to expand our operation over the course of this year and move into other areas of the group. The great thing about business at the moment is that we aren’t just having interesting conversations, we are meeting with real prospects and looking to close deals.
“Our target was for a budget increase of about 15% to 20%, but certainly we have a potential to exceed that with sky-high results from growth.”
The company designed the app after Simply asked for real-time trading being made more immediate.
Traders will be able to communicate instructions to their broker immediately, without compromising security as there is no data held by the app and are sent using an encrypted connection.
Dr Foley said: “This was established technology, but we wanted to take it one stage further. Before, you were tied to a PC, but with the app we are launching, you can do it on the go, you can manage your portfolio from anywhere.
“As long as you have an account with the broker, have downloaded the app and installed it on the iPhone, you can look at your portfolio 24/7, exactly as you would do on the net. So you could order shares when the market is closed or while sitting on the bus.”
Chairman at Simply Stockbroking, Stephen Pinner, said: “The team at peterevans have created a fantastic proposition with xanite wave that has helped us to secure our position at the forefront of the industry.”
