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iMatix labs have unveiled what they call "a breakthrough for the domestic financial market" in the form of a micro-sized automatic trading system that runs on a simple smartphone. CEO Hintjens explains: "this revolutionary software is actually a fully-fledged automatic stock-trading system. It downloads stock prices from five major markets like NASDAQ and the Brussels Bourse, calculates low-level temporary divergences, and leverages your prepaid mobile phone balance by doing micro-trades whenever it finds a good deal".
The new iMatix micro-trader lets everyone enjoy the stock market. Hintjens explains further: "the cost of mobile telephony is so high that this is the ideal way to pay the bill. Install the microtrader on your smartphone, and you too can grab a slice of the action!"
Some analysts have expressed skepticism. Bill O'Really of Fix TV says, "I can see bandwidth being a real issue. Just getting several thousand stock updates per second is gonna cost a buck! Especially if you're roaming… and honestly, not every schoolkid has or deserves a smartphone. I see this as a toy for the rich, and I plan on getting me a couple."
The iMatix micro-trader will be available for download in early 2009, according to an iMatix sales rep. "We are not going to release a product before it's completely ready. Anyhow, after we all installed this on our phones, it's making us so much money we're kind of changing our minds on that whole free software business. Some of us are even thinking about grabbing some patents."
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