Shares in struggling market data technology vendor CMS WebView have jumped on news that the Chicago Board of Trade is to extend use of its TDI ticker plant software to the recently-launched Joint Asian Derivatives Exchange (Jade).
CMS shares were up 66.60% to 1.88 pence in mid-day trading, having earlier hit 2.00 pence.
Under the terms of the agreement, Cbot will be licensed to use the vendor's proprietary TDI ticker plant software at Jade, a Singapore-based joint venture between the CBOT and the Singapore Exchange that went live last week.
CMS says the Cbot continues to use TDI under a separate licence arrangement for the distribution of data from other organisations on a bureau-type basis.
Earlier this week the London-based vendor said it would change its marketing model for TDI after failing to win any recent sales for the system. Going forward the vendor will switch to selling the intellectual property (IP) for TDI to firms. The new model will enable CMS to negotiate individual IP licences, and enables clients to retain control of data applications and to develop the software in-house.
CMS also said it was looking to "explore other new business opportunities" following a corporate restructuring.