RNS Number : 6547V
Arcontech Group PLC
17 January 2012
ARCONTECH GROUP PLC
("Arcontech" or the "Group")
Major International Bank goes live with CityVision
Arcontech Group plc (AIM: ARC), a provider of enterprise real-time software solutions to the investment banking and broking sectors, is pleased to announce that a major international bank has deployed CityVision in production. Global roll out is continuing, with the initial phase covering Europe, North America and Asia Pacific regions.
The deployment is part of an initiative to deploy data vendor independent solutions and is facilitated by Arcontech's "CityVision Adaptor" strategy announced in October last year. It will bring revenue to Arcontech in excess of £1m over three years and is expected to provide the bank with considerable cost savings, as well as streamlining and consolidating market data operations.
The CityVision system provides market data contribution to data vendors and redistributors including Thomson Reuters, Bloomberg, IDC and SIX Telekurs displacing the incumbent contributions systems. It also facilitates cross connectivity between other market data platforms and systems within the bank, enabling data received or generated on one to be viewed and processed by equipment connected to the other. This means that in many cases where two (or more) vendor terminals were required on the desktop, fewer are now required, therefore making possible a reduction in the overall terminal count with a dramatic commensurate cost saving.
Andrew Miller, CEO of Arcontech plc commented: "We've invested considerably in developing and fine-tuning our CityVision adapters; naturally, I am delighted to see that we are well on the way to recovering that investment. The configuration and components deployed comprise a vendor agnostic model that is repeatable across the investment banking community, giving users true choice and flexibility in their market data operations."
For further information please visit www.arcontech.com or contact:
Arcontech Group plc
Andrew Miller, Chief Executive
+ 44 20 7256 2300
Northland Capital Partners Limited
+44 20 7796 8823
Notes for Editors
About Arcontech Group Plc
Arcontech Group Plc's (AIM: ARC) key trading subsidiary is Arcontech Limited.
Founded in 1979, Arcontech is real-time software specialist providing products and bespoke systems for collection, processing, distribution and presentation of time-sensitive financial markets data.
Arcontech is independent of any data vendor (such as Thomson Reuters or Bloomberg) and has thrived due to timely delivery of dependable, cost-effective solutions to the financial community based on its award winning CityVision product suite. Its diverse clients range from National Government, Investment Banks and Data Vendors through to Brokers and Bookmakers.
Arcontech installed its first digital market data products in 1983 and has continually developed new, innovative systems and products, adopting leading edge technology, proven in the marketplace.
CityVision supports collection, aggregation and redistribution of market data in real-time from multiple sources to multiple destinations. Sources can include vendor data feeds, exchanges, MTFs (Multi-lateral Trading Facilities) and contributed data from the spreadsheets and trading systems of the pan-European investment banking community. Destinations include multiple vendor contributions, dealing desk displays, Microsoft Excel, real-time streaming web updates and on-line trading applications.
CityVision is fast, flexible, fully resilient, scalable and secure, with a full authentication and entitlements system. The system is extensible to receive instruments in any asset class, from hundreds of contributors and to provide controlled re-distribution.
CityVision can interoperate with other systems (such as Thomson Reuters RMDS and Bloomberg) via existing de-facto standards (such as Marketlink, SSL and FIX) and via its own comprehensive APIs. This means it can provide cost effective solutions to add value to or replace incumbent systems.
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