Arcontech Group PLC New client win to contribute data to Factset
02 October 2020 - 4:00PM
RNS Non-Regulatory
TIDMARC
Arcontech Group PLC
02 October 2020
ARCONTECH GROUP PLC
("Arcontech", the "Company" or the "Group")
New client win to contribute data to Factset
Arcontech (AIM: ARC), the provider of products and services for
real-time financial market data processing and trading, is pleased
to announce the signing of a new Tier 1 bank client for its MVCS
(Multi-Vendor Contribution System), which enables those that create
market data content, whether real-time instrument prices, auction
results or policy statements, to be contributed to multiple vendors
and internal consumers at the same time. Although anticipated
revenues are not expected to be material initially, it is the start
of an important relationship with a Tier 1 global institution
Discussions commenced as the bank wished to contribute real-time
prices to Factset where the bank's clients wanted to view them and
for which their existing market-data infrastructure provider was
unable to help.
Matthew Jeffs, CEO of Arcontech said:
"We most frequently provide our software to enable contributions
to be made to Bloomberg and Refinitiv, however, we are increasingly
receiving requests to send client data to other vendors and venues
like Factset and Tradeweb along with a need to repurpose data
internally for example into risk management systems or use by other
desks. More generally, regulatory pressures coupled with the need
to reduce risk, are encouraging financial market participants to
ensure any data sent to the market is managed and recorded for
audit. We enable our clients to do this by consolidating the data
so it is known exactly what is being sent to whom as well as to
monitoring the data flow. The monitoring function can alert the
client by e-mail and block the data if a price is not within market
parameters or simply alert the administrator if a communications
line fails. We therefore enable our clients to take action at the
soonest possible moment and minimise any risk associated with their
prices being sent to the market."
Enquiries:
Arcontech Group plc 020 7256 2300
Geoff Wicks, Chairman and Non-Executive
Director
Matthew Jeffs, Chief Executive
finnCap Ltd (Nomad & Broker) 020 7220 0500
Carl Holmes/Simon Hicks
To access more information on the Group please visit:
www.arcontech.com
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