London-based Updata Software is offering private investors the chance to break down one of the last ...
London-based Updata Software is offering private investors the chance to break down one of the last bastions of the professional fund manager instant, up-to-the minute share prices
For a £1,000 annual fee Updata, in conjunction with its new partner BIS of Germany, will give real-time share prices from 20 stock exchanges around the world delivered via the television aerial. Users need Updata's Trader software product and a Philips set-top decoder to download the information from the aerial into a PC
David Linton, managing director at Updata, said the target is the UK's active private investors or day traders. He claimed there were 5,000 day traders in the UK with up to another 10,000 interested enough in investing to take a real-time price service
Updata is also offering a less comprehensive service at £495 a year and gives real-time UK prices, or a free service with share prices delayed by 15 minutes, though users still need the Trader software and a decoder
BIS, which is quoted on Germany's Neuer Markt stock exchange, will supply the share price data. For an additional fee a newswire service from AFX can be included in the package
BIS is injecting £1m into Updata for a 16% stake in the UK company, valuing it at £6m. According to Linton there are as many day traders in Germany as the UK with the Dutch market also growing fast, so a European partner is essential
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