Irish Trader puts a Coda on financials software

Dublin-based trading company Delta Index has chosen Coda's Financials software to support the rollout of its XDeal trading platform.

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The implementation will allow Delta Index's in-house developed trading platform to get a more accurate idea of performance across broker management systems as well as various finance and accounting functions as the company, which specialises in contracts for difference and financial spread betting services, expands into new territories.

Joint managing director of Delta Index Conor O'Neill told silicon.com the company went live with XDeal in 2007 and received a regulatory licence to do business into all EC countries last September. It opened up its business to UK customers from around that time and expects to move into Germany next month.

"Our existing financials systems couldn't deal with international revenues and multi-currency, so it wasn't in line with our vision of the business for the next 18 months," O'Neill said.

"Because we built the trading platform in-house, we have a strong team of engineers within the company, allowing us to have a short lead time in integrating the new financials software," he added.

The company expects to have the Coda system live by 1 April after a three-month implementation.