New hybrid trading app Sphere breaks ground in LPG and naphtha markets

London (Quantum Commodity Intelligence) - More than 2.5 million mt of LPG and naphtha has changed hands via Sphere, a new trading platform that combines screen, voice and instant messaging together, the start-up announced today after launching in February.

The company, founded by former Trayport executives Ami Katschinki and Heather Balfour Ortega, has adopted voice recognition technology into their trading platform that is as accurate as the human ear.

Firm bids and offers, which have been entered electronically on the app by traders and brokers, appear in green, like other screens.

But Sphere also flashes up bids and offers that have been relayed over the phone, which appear on the screen in yellow and are only indicative.

Bids and offers from instant messages also appear on screen in orange, and are also indicative until made firm.

Sphere has launched in the light ends products of LPG, naphtha and gasoline, but plans to roll out across the global oil complex and into other commodities.