Cotton trade body, Cotton Association of India (CAI) is preparing to launch a dedicated mobile app for cotton stakeholders for dissemination of quick and credible information on price, arrivals and cotton trade. Announcing the app, CAI president Atul Ganatra informed that the app ‘CAI Trader Mobile App’ will have three main components and will be launched within a short time.
Besides providing fresh market data from Bombay Stock Exchange (BSE), MCX rates, the app will also provide live data on currency – USD/INR and price quotes from ICE. Secondly, CAI is trying to publish spot prices and daily arrivals data on NCDEX Kapas and Khal rates live through this mobile app. “This means, if you open this app, you will have Indian as well as international market idea within 30 seconds,” said Ganatra.
The app, developed by a team of Mayank Sakseriy and Tanay Mirani, will help traders and cotton stakeholders to calculate ginning costs and parity and get MSP predictions. Apart from calculators and currency converters, the app will also have personal trade book, which will allow a user to record his own trades and save it in the app. Critical information such as trade summary, long/short position and average prices will be accessible at the finger tip, Ganatra said.
“All the user information is not stored in the server but it is only stored on user’s phone. So noone can see the data. At present the app will be available on Android version. We have allocated a good budget to develop the app further and also launch an iOs version in future,” he added.
Meanwhile, CAI will organise the International Cotton Conference for the first time in India in March. “We organised two successful domestic conferences last year and now we are hosting International Conference from March 6 to 8 at Hotel Trident, Mumbai,” he said adding that already top 10 speakers from around the world have confirmed their participation.