London/20th February 2002: Future Dynamics, the leading supplier of electronic straight through processing products for the derivatives industry, today announced that macfutures, London’s leading proprietary trading company, has purchased Paper Trader, a trading simulator based on FD’s Crossfire product for educating new traders in the electronic futures and options markets.
Paper Trader gives a completely safe environment for Traders new to electronic trading to experience and learn all aspects of the markets, seeing real time live data from LIFFE, Eurex, CBOT, CME and Matif. This allows the traders to make genuine trading decisions, react to live news of economic figures and study how they would actually fare if their accounts were exposed to the market.
Oliver Jones, Director of macfutures said, “We have had Paper Trader built for us to form part of a full education programme covering all facets of futures industry. New traders joining macfutures go through a three-month course. Daily trading sessions are a key part of this and now we can create an environment with live prices from the exchanges where the orders generated only register in the trader’s order book. All actions undertaken by the trader are identical to that of a truly live trading application, so it provides a realistic, yet safe, environment as if live.”
"Future Dynamics have been able to take an idea from us and develop a bespoke application built to our unique requirements.” said Magnus Greaves, Managing Director of macfutures. “We have opened a second office in London and are opening offices in Gibraltar and Los Angeles as well looking at other locations. Paper Trader is a product that gives us the opportunity to expand our trainee programme to all our offices globally. Our ongoing relationship with such an innovative company as Future Dynamics is key to building on our dominance in the UK to become the leading proprietary trading company globally."
Gerald Brown, Managing Director of Future Dynamics said, "We are delighted macfutures have chosen to take Paper Trader. It is good to work with a proprietary trading company who recognise that cutting edge technology is a vital element of success alongside their strong management and professional training programme."
macfutures is a proprietary trading company that has been financially backing and facilitating traders on the electronic markets for over 4 years. It was one of the first companies to adopt electronic trading prior to the closure of open outcry trading on LIFFE. macfutures currently supports over 100 traders. It is as a result of this emphasis on management and training that macfutures has built a reputation for having the most consistently profitable electronic traders in London.