Modern financial markets are inseparable from technology. Computers work in every segment of the financial world. New technology however means, not only growing computing power but also miniaturization which often changes the way our lives are organized. Smartwatches are the recent result of suchlike small revolutions. Will they change the trading industry?
When looking at the evolution of financial markets it can be seen that sooner or later new technology has changed them. From the era of crowded exchanges the world moved towards electronic trading. Traders switched from the phase of hand charting to computer analysis while complex algorithmic trading became accessible to every single account owner.
It was not that long ago when traders were using big computers hidden under their desks. Today, trading is often conducted directly from mobile devices such as tablets or smartphones. Something like that was hard to imagine just fifteen years ago, today it is a reality. Is it the end of the technological evolution in trading? Or can trading be even more personal and mobile than it is now?
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Being accustomed to what we have now, we may be tempted to think that evolution has stopped and nothing more can be invented. However, there is a new trend emerging in the technology sector which is already changing our routine lives – smartwatches. Devices which are even smaller than phones, more personal and more mobile. Being worn on the wrist gives us quick access to the main features of bigger smartphones.
And they have rapidly grown in popularity. Director at Strategy Analytics research firm, Cliff Raskind, said in March, “We forecast total global smartwatch shipments to grow 511 percent from 4.6 million units in 2014 to 28.1 million units in 2015. Most of the smartwatch growth will come from the new Apple Watch, which we forecast to ship 15.4 million units worldwide in 2015. Apple will quickly become the world’s number one smartwatch vendor and capture 55 percent global market share this year.”
Can financial markets ignore the new trend that is emerging? This year, at least five brokers have already introduced their applications for smartwatch devices. Will other firms join? Is it a good time to enter this segment of technology? Finance Magnates conducted research among several brokers, bringing the concept of smartwatch trading and its future closer. Some of the answers and disclosed plans were quite unexpected.
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