Trading with City Style

Marples has a simple aim in mind: to make Propex the property investment exchange, into a full trading platform that mimics the screen City traders rely upon. Six months ago, the idea was largely theoretical, but now it's up and running as the Propex Trade terminal, with links down the right hand side of the screen giving direct access to EGi, Focus, IPD, GOAD and other information about the properties under examination, if the user had already subscribed.

Around 75% of the 1,250 subscribers to the service log in regularly, and several companies have expanded from a single seat on the system to multiple seats. He admits that the hard work is still ahead - that is, the slog of persuading more sceptical agents and investors to sign up to use the exchange.

However, while enthusing about the look of Shopproperty, he pulls up PrimePitch as an example of something not designed so well: "We'll be completely rebuilding the site later in the year."

The rebuild is likely to be more than cosmetic, too. Marples dismisses the site's main purpose - listing investment property for sale - as a "little passè". He talks excitedly about the site becoming a vehicle for indirect investment in property, especially as plans for property investment funds (PIFs) move forward.