Under the agreement, Net Futures, which belongs to the Zaner group of Chicago, will distribute online software made by Strategy Runner to its customers, and will also train them in usage.
Strategy Runner's VP Marketing and Business Development, Menachem Lev, estimates that some 1,000 Net Futures customers will use the product in the coming year. The Israeli startup will get royalties from each trade carried out using its software.
The deal, Strategy Runner's first with an institutional customer, should help it meet its $1 million sales target for the year.
Lev says the startup's sales forecast for 2003 is $10 million.
Its online futures trading software is based on artificial intelligence and data mining technologies. It allows investors to plan, construct and implement trading strategies.
Strategy Runner was established in 1999 by Dr Anna Becker, today the company's chief executive. In August 2001 it raised seed money of $1 million from Mirabilis co-founder Yair Goldfinger, and other private investors. The company employs 7 people at its headquarters in Tel Aviv, and three more engaged in marketing and technical support in the United States.