Saxo Bank, the online trading and investment specialist, has launched a Forex correlations tool on TradingFloor.com. It is the third interactive application released on this trading community in the last six months. It follows a Forex Open Positions module and a customisable real-time updating Financial Calendar.
The FX Correlations module graphically visualises data relationships between prices, between prices and exposures and between exposures in the major currency pairs.
Hugh Taggart, Head of Content at Saxo Bank, said:
“This launch represents another step in bringing interactive tools to the members of the TradingFloor.com community. HTML5 technology enables us to provide tools like this to help traders and investors explore their ideas and decision making in this constantly changing online environment.”
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The module was developed by Saxo Bank’s Advanced Research and Innovation department, which investigates the use of advanced technology in finance. The department also has a grant from the EU Commission to research in neuroeconomics and technology-enhanced learning. The correlations tool draws on the simple relationships revealed in the Open Positions Module, which the department also prototyped.
Jeffrey Lins, Head of Advanced Research and Innovation at Saxo Bank, said:
“The grammar of relationships displayed in the tool is quite easy to grasp. They are visually rendered through connections, shapes, colours and sizes which float in a kind of particle system – something like the physics of the real world – making interaction with the module fun.”
The tool is the first of this kind of network graphic visualisation of simple data relationships made available on TradingFloor.com. Saxo Bank will iteratively release more tools plus learning games and other media on the site based on very complex and expansive data relationships, plus a high level of feedback and user input.