Premier Chocolate Products, a UK-based manufacturer and supplier of chocolate and cocoa-based ingredients and David Cater Ltd, a UK-based physical commodity broker, are two of the five new corporate clients to subscribe to ProphetX in December 2003. ProphetX is the market price display system for commodity and energy traders sold under exclusive license in the UK by market data systems specialist CMS WebView plc (CMS).
With the addition of the latest five companies, this means that 20 corporate clients have now subscribed to the ProphetX service since July 2003 when CMS began fully marketing the product in the UK. In addition, a growing number of private traders are also signing up for ProphetX terminals.
ProphetX is a professional real-time market display and analysis product that has been developed by US company DTN Market Access. Typically priced at 200 per month per terminal, it has already proved popular in the USA, selling over 4,000 terminals.
CMS WebView recently successfully raised 2.5 million in new funds from a share placing with financial institutions. Some of the proceeds of the placing are being used to accelerate the marketing and sales efforts for the ProphetX system.
“Our corporate clients are using ProphetX to trade energy, agricultural and tropical commodities,” says Bob Antell, Chief Executive of CMS WebView. “Private clients tend to prefer to use it to trade a range of financial futures contracts. For a product that we only began to market in earnest in July, we’re very pleased with the level of sales achieved so far, which have now hit internal targets. With the new money we’ve just raised, we’re now able to expand our marketing presence in these particular sectors in 2004.”
Neil Palmer, Chocolate Account Manager at Premier Chocolate Products, added: “ProphetX has shown advantages over our previous price display system. The comprehensive charting features together with the facility to create customised work books will give us greater flexibility in the way we analyse and record market data. In addition, ProphetX will allow us to more readily enhance and tailor information to satisfy customers’ individual requirements.”
The ProphetX system combines live market data, powerful analytical tools, as well as up-to-the minute news. ProphetX can be internet-delivered or installed on a firm’s network. And because it has been developed for use on standard Microsoft platforms, users are already familiar with the on-screen environment. Moreover, the system can be accessed remotely, allowing it to be used when traders are away from their desks.