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New trading tool comes out of the Blue

New trading tool comes out of the Blue

Twelve years after he first considered the idea, Andrew Cumming has launched a new Web trading tool which he believes will revolutionise online commerce.

Code-named "Stochaston Blue", the online trading tool was developed over two years in a project which saw the participation of two companies, Stochaston and RapidCorp.com, as well as a group of UNSW students.

Cumming, a doctor of pure mathematics, developed the algorithms which drive the suite of products whilst working in the financial sector.

Stochaston and RapidCorp.com managing director Brad Warren told ARN he became involved with the product during the development stage.

"You can have a great idea but you really need to understand the commercialisation process. We have been very careful to develop a tool which will fit the market," Warren said.

Students on board

Through a relationship between Stochaston & RapidCorp.com and the University of NSW, Warren brought a group of third- and fourth-year students on board.

"The students worked with us on the project and received funding for their studies," Warren said. "The students developed many of the applications needed to make the tool commercially viable, as projects within their final year of study."

Warren also played a key role in finding venture capital, adding that Australia is "the hardest place in the world" to find investors in IT.

According to Warren, the tool consists of an algorithmic engine designed to automate the construction of portfolios of options, and will be of special benefit to newcomers to the stock market.

Stochaston Blue is designed to be a strategy/risk management and trading tool that allows users to create portfolios of options, forwards, and positions, in the underlying assets according to their desired risk characteristics and profit diagram.

The company is currently exploring sales options and opportunities in Australia. "We are looking into different marketing avenues as we enter the final phase of testing," Warren said.


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