The diagram above shows the GREENEYE FX trading platform and market evolution from 1998 through 2010. Initially the software was designed and delivered to specialist retail broker/dealers who quoted prices manually, with some assistance from automated feeds. The system executed online deals between the broker/dealer and their customers. Counterparty trades were then typically done with market making banks over the phone or via Reuters dealing.

GREENEYE licensed five FX brokers to use this platform, including major Chicago Lind Waldock who was then acquired by Refco. It also licensed Midas, now Saxo Bank, who over their three year license period built an in-house system. Over $4 billion dollars per month was traded over this first version of the system, which also acquired and incorporated the sophisticated charting system developed by Brad Georges. brokerage company Fiamass. During this early retail FX stage GREENEYE had 40% of the market.

This core dealing software is ideally suited to Australian water and emissions trading.

GREENEYE then added further risk management and extended firm white label functionality along with automated counterparty trading, whereby the system automated not only the deals between the broker and its clients but also those deals between the broker and his wholesale counterparties. A pilot integration to Goldman Sachs internal datafeed and the wholesale multibank portal FXALL were both completed along with an extensive cycle of acceptance testing including a 26 man source code review by a major Wall Street Investment Bank.

After establishing its US presence in the San Francisco Bay Area, GREENEYE raised its first business angel funding and refined the business model from enterprise software to software as a service (SAAS) and from selling to specialist broker dealers to delivering its software to mainstream retail brokers with competitive multibank liquidity. During this period (in dark blue on the diagram) a handful of specialist broker dealers who built their own platforms grew massively, gaining much of their business providing white label versions of their software to .introducing brokers", GREENEYE focused on creating a solution for mainstream brokers who did not want to put their clients or reputation at risk with these brokers such as FXCM, CMC, Gain Capital and Saxo Bank.

Completion of this product and acceptance testing by its first major broker, PFG in Chicago was completed shortly before Brad Georges relocated to Australia late in 2007. Subsequently the business model has been refined further with the addition of  new market mechanisms and nascent green markets.

All the pieces are now in place to serve the .early majority. mainstream brokers about to enter this market.