Electronic agency broker Instinet has signed an agreement to use Caplin System's Real Time Text Protocol (RTTP) platform to distribute real-time streaming exchange pricing to its clients globally.
The exchange data will be distributed from Instinet's data centres in the US and UK and delivered to clients over the broker's Instinet Advance and patent-pending Newport front-end systems.
Under the deal, Instinet will install the RTTP-based Caplin Liberator server and associated toolkits and adapters. The vendor says a single Liberator server can support up to 30,000 concurrent users. The broker aims to have over 1000 institutional brokerage users connected via Caplin's technology by end of 2004.
Steven Brain, first vice president, Instinet, says the Caplin technology will enable Instinet to connect clients to services at a low cost.
Caplin says its system provides Instinet with a consistent Java API across various connectivity options and a scalable distribution layer based on its Liberator server. The framework can also be used by Instinet to integrate and distribute new data content to its clients.
In addition, due to Caplin's Siphon technology, some of Instinet's clients will be able to reduce bandwidth requirements by using their existing Reuters Triarch system to supply exchange-based prices.
Paul Caplin, CEO of Caplin, comments: "Instinet's use of our products to provide real-time Web connectivity is a great example of how our technology can offer scalability and flexibility to advanced financial applications."