Marketcetera goes gold
In an interview with ZDNet co-founders Graham Miller and Toli Kuznets said their algorithmic trading and routing system will compare initially with commercial rivals like Flextrade and Portware.
It's way too early to compare what Marketcetera offers with market leaders like Bloomberg, they admitted.
While the main development team for Marketcetera is in San Francisco, the company has recently hired a vice president-sales, Brian Roberti, who will be based in New York.
The company has not disclosed its pricing, but Miller revealed that its model is based on the number of connections made to Marketcetera's server, so it is running on a SaaS model.
"Our competitors charge a licensing fee and a maintenance stream. See us as priced closer to their maintenance stream price – a fifth or so of the Total Cost of Ownership (TCO). We're talking about tens of thousands of dollars."
Not cheap, but cheaper. "Our support model is tuned to hedge funds, broker dealers, that sort of thing. We have a few brave sous using our open source product, but it's not where our design focus is."
The open source version of the software is licensed under the GPL version 2.0.