New Wireless Data Service in the Works

Sona Mobile, a wireless application developer, plans to launch an enterprise version of its MobileMarkets streaming, real-time market data service later this month, Sona officials say.

Working behind firewalls, the Mobile Markets Enterprise Edition will deliver real-time market data—either separately or co-mingled—from vendors such as Reuters, Bloomberg (PhatPipe), Traderforce, ComStock, Infotec and Dow Jones to handheld devices. The vendor can also deliver proprietary and derived data as well as research.

Users can set up watchlists, news filters and alerts, which are delivered via e-mail, text messaging or the Short Message Service, Sona officials say.

The service will accept datafeeds from legacy market data distribution platforms such as Reuters' TIB/Rendezvous, Triarch and Trading Room System (formerly from Telerate) as well as Reuters Market Data System, says Evan Bauer, managing director, technology operations at Sona, based in New York.

"It's also DACS-compliant," says Bauer, referring to the Reuters Data Access Control System that governs market data permissioning. "You don't have to pay exchange fees twice," he says.

Bauer says the vendor recently completed two user firm trials of MobileMarkets Enterprise Edition.

Potential users include investment portfolio managers; traders working in equities, derivatives, foreign exchange and money markets; proprietary traders; hedge fund managers; corporate treasurers; and trading sales staff.

The Sona Wireless Platform is a key component of the Enterprise service, Sona officials say, and was also used in the development of the TelerateMobile service, which offers select views of market data via BlackBerry devices (IMD, Aug. 9, 2004).