HyperFeed Technologies is moving into the high performance trading room desktop market data distribution business with the launch of ActiveH, using the TRS/Active8 product line spun off from Reuters as a condition of its purchase of Telerate.
Ticker plant technology outfit HyperFeed Technologies won exclusive rights to market Telerate's TRS and Active8 products after the Department of Justice and European Union mandated Reuters to divest itself of the software in order to satisfy anti-monopoly requirements.
Under the terms of the license, HyperFeed is entitled to use and further develop the TRS technology to offer its own market data system (HyperFeed Trading Room System) worldwide. ActiveH is being pitched as an open-systems market data display workstation that connects to HTRS.
Paul Pluschkell, HyperFeed's president and CEO says: "Our goal is to create a global agnostic market data platform and financial desktop using a proven global platform that currently supports more than 25,000 users."
He says the products will be positioned as a collaborative industry utility for data, transactions and platform integration through a soon to be announced series of global partnerships.
While Reuters retains the rights to develop and support TRS and Active8, the licensing deal effectively elevates HyperFeed into the number two position as a supplier to the trading room data distribution market, behind Reuters' RMDS, Triarch and Tibco TIB/Rendezvous platforms.
Separately, HyperFeed has entered into a Letter of Intent with Dutch market data technology house MarketXS to license, install and support HTRS and ActiveH in Europe. Under the agreement, MarketXS will contribute European feed development, technical sales, and first level maintenance support while HyperFeed will be responsible for software upgrades and maintenance, and second level support.
MarketXS already supports multiple TRS sites in Europe in its current capacity as distributor for Telerate. It recently completed a TRS installation for the Fortis Bank dealing rooms in Benelux, one of the largest TRS sites globally.
The companies are also exploring the possibility of combining HyperFeed's on-site, low latency ticker plants and proprietary smart order routing technology with MarketXS' Internet-based data delivery services.