Market EarlyBird unveils mobile app
Late last year, Market EarlyBird made its web app available as a desktop app in a secure wrapper on Windows. Less than six months later, the London-based fintech is unveiling a new mobile client for its “Safe, Smart Twitter for Finance” platform, reports David Penn at Finovate.
“More than 90% of our users run EarlyBird on their desktop,” Market EarlyBird CEO Danny Watkins explains. “However a recent industry survey has shown increasing numbers of traders are using their smartphones to conduct foreign exchange deals and we have also seen a significant demand from our customers, particularly some of the buy-side firms, for a mobile client.”
Market EarlyBird offers a read-only, anonymised Twitter service designed for financial markets professionals that enables them to spot trading opportunities and identify potentially market-moving news before it makes the headlines.
The platform helps satisfy compliance requirements by recording, logging, and timestamping Tweets as they appear – as well as including them in MiFiD II Transaction Reconstruction where appropriate. And by blocking users from tweeting and direct messaging, the platform satisfies one of the principal challenges for financial professionals using Twitter.
“We have heard anecdotally of traders using their mobile phones, or having an iPad alongside their trading terminal with public Twitter on it,” the company noted in a recent blog post titled, ‘Why Twitter’s of little value to financial firms’. “Almost certainly this breaches the bank’s rules,” the post read.
Available on both iOS and Android, the app maintains the same functionality as the desktop version, including Tweet curation tools, alerts for priority Tweets and Tweet monitoring for compliance purposes. The mobile app also syncs with the desktop version.
Founded in 2012, Market EarlyBird says it is currently in use or being piloted by nearly half of the top 20 banks in the world, as well as several buy-side firms.