International Petroleum Exchange of London (IPE) is to use Future Dynamics' CrossFire screens to trade Brent Crude when the market moves to a parallel open outcry/screen-based operation.
IPE clearers will deploy the Crossfire Web screens across the new trading arcade on the exchange floor to allow their locals to trade electronically while they use the system to manage risk.
In addition, traders will be able to access Crosswire over wireless hand held Ipaq devices, enabling them to take advantage of arbitrage opportunities between the open outcry and electronic markets.
Richard Ward, CEO, IPE, says parallel trading is the next step in the transition to a fully electronic market and the Crossfire product will support this process.