Auckland financial software developer Henley Communications has launched an online service aimed at do-it-yourself share market investors.
The service, Global Investor, is a suite of filtering, sorting, analysis and charting software combined with technology for accessing data from a range of share markets around the world.
Todd Somervell, Henley Communications technical director, says since it launched last month, the service has more than 170 customers in New Zealand. Another 240 people have signed up for seminars in Auckland this week.
The service is priced and aimed at the retail or "man-in-the-street" market, says Somervell.
"The thing that most people don't understand is that trading the stock market is not about reading The Herald each day and having a drink with your stock broker," says Somervell. "It's about serious analysis of data. You have to follow the market very closely or you can download the historical data and bring up a chart which will immediately highlight the trends. Through technology like this we're making these tools that have only been available to stockbrokers to personal investor.
"Most of our customers have got into their later years - 40-plus and a large majority would have been self employed. They're looking at what they can do with their money and see the share market as a very important part of that. Our tools allow them to reduce the risk."
Customers can download end-of-the-day quotes and data from a single share market for $25 per month or all the markets in New Zealand, Australia, London, the US and Canada for $50 per month.
By using the analysis tools provided, investors can then compare a share's historical data with its current performance to help predict future trends.
Chasing overseas markets, Henley has also appointed a distributor in Europe (London-based Global Futures) and is in discussion with a distributor in Australia. It is also looking for offices in Asia and the US and is seeking venture capital for further expansion globally. "In that vein we're also connecting to new exchanges all the time," says Somervell.
As well as Henley's own charting software Henley Chart, Global Investor also supports other charting packages MetaStock and OmniTrader.
In a side deal, Henley Communications has brokered a royalty agreement with US-based financial information giant Bridge Communications. Bridge, which competes with Reuters and Bloomberg, are rebadging Henley Chart as Bridge SystemMaker and will make the suite available to 10,000 of its customers (mainly large stock broking firms) as part of its real-time MarketCentre product. Henley will receive a royalty of each sale.
Global Investor is at