UK-based CMS WebView says the Chicago Board of Trade (Cbot) is expanding use of its market data technology, Transactional Data Interface (TDI), securing much needed fees for the loss-making vendor.
Shares in CMS Webview were up eight per cent this morning to 6.75 pence on the news.
The additional business from Cbot will come as a relief to the vendor, which saw its stock lose a quarter of its value in June, after it warned it was unlikely to break even in 2004 after failing to win any orders for the TDI ticker plant system this year. The company raised £2.5m in December 2003 to fund a sales drive for TDI, and had expected to win at least one order in the first six months of 2004.
Cbot will extend its implementation of TDI to include distribution of market data for Kansas City Board of Trade (KCBT) and Minneapolis Grain Exchange (MGEX).
Bob Antell, chief executive of CMS, comments: "The fact that the CBOT will be distributing market data for KCBT and MGEX using TDI is a further endorsement of its confidence in our software."