Swissquote has rolled out a virtual reality application that uses eye-tracking technology to allow users to simulate real-time trades by “glancing” at a specific stock.
The Switzerland-based bank's new application is designed for use with virtual reality helmets. It places the user in a 360 degree trading platform where they are surrounded by a trading wall and multiple sections dedicated to the Swiss Market Index, currency pairs and other main indexes, Swissquote said in a statement.
Using eye-tracking technology developed by Fast Trade, the user can bring up more detailed information about a specific stock by focusing their eyes on it.
Swissquote clients can also log into their profiles, view the status of their accounts and execute a trade using Fast Trade's technology.
“This technology makes it possible to execute trades much more quickly and easily, by preconfiguring a number of criteria, including the preferred investment amount. By default, this amount is set at SFr5,000 ($5,039),” Swissquote said in a statement.
Swissquote claims to be the first European bank “to make its mark in the world of virtual reality”.
Paolo Buzzi, chief technology officer at Swissquote, said: “Being at the forefront of technology is Swissquote’s signature and our new virtual reality trading application is another illustration of our innovative capacity. While it is true that the use of virtual reality helmets is still marginal, building our application allows us to also perfect Swissquote’s existing applications on other devices, therefore accelerating our own technological evolution. In this way, the Fast Trade tool, initially developed for virtual reality helmets, will eventually be usable for our Apple Watch application.”