UBS Warburg has implemented Reuters' Market Data System - comprising components from the Triarch and TIB feed handlers - and Internet finance platform in a bid to drive down data costs across its FX and cash collateral trading (CCT) business.
Reuters MDS integrates the Triarch platform with Tibco's TIB market data distribution system to manage financial content in real-time across UBS Warburg's trading and distribution environment.
Based in Zurich, the system utilises existing Triarch data sources to feed 500 users globally including centres in Switzerland, USA, UK, Singapore, Hong Kong and Tokyo. Using a global feed from a centralised hub eliminated the need and associated costs for installation, maintenance and IT resources in each country, says the bank.
Reuters also worked in collaboration with UBS Warburg to develop a
browser-based desktop using the capabilities of the Reuters Internet Finance Platform. Named 'MDS Lite' by UBS Warburg, the application delivers integrated
Reuters prices, news, and information, along with UBS Warburg's own internal
rates, vendor data, and other Web services directly to end users. Individuals can adapt their screens to match their own requirements.
Global roll-out of the solution followed the successful implementation of a pilot system at UBS Warburg in Zürich.
Peter Healey, managing director, interest rates and foreign exchange business management, UBS Warburg comments: "The project has been so successful, in terms of cost savings, that UBS Warburg is now piloting the system across other business areas."