Reuters adds Proquote functionality to desktop products

Reuters adds Proquote functionality to desktop products

UK news and information group Reuters has signed a licensing agreement for the London Stock Exchange's (LSE) market data and trading technology, Proquote, which it will add to its desktop trading products.

Under the terms of the licesning agreement, users of the Reuters Trader UK product can now receive Proquote functionality that enables direct trading on LSE's Sets order book and allows access to Proquote's retail service provider network and order management system.

Reuters says access to the Sets trading system and order management system will also be available on its premium desktop product 3000 Xtra.

Reuters will use Proquote's permissioning system, known as 'contention', which enables the client company to control the number of users accessing the Trader UK service at a given time, rather than each user having to have their own unique access.

This also allows companies to manage exchange fee costs by providing a charging structure for a pool of licences, as opposed to each user needing their own licence.

Stephen Wilson, global head of exchange traded instruments, Reuters, comments: "The addition of the Proquote capabilities to Reuters Trader UK make it a very attractive proposition. It is a cost effective, hosted service which includes a contention capability."

Karen Young, head of business development, information services, LSE, adds: "We are committed to using open standards in our product development so that our trading technology can be easily integrated with systems like Reuters Trader UK as well other back and middle office and portfolio management systems. This agreement will also benefit Proquote's retail service providers because it offers them an additional channel to market."

Reuters says it has already signed Charles Stanley to the new offering. The UK stockbroker is rolling out Reuters Trader UK - with the Proquote functionality - at its London headquarters and a number of regional offices.

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