Caplin Systems has launched an ultra-thin client market data platform, Mongoose, pitched as a lightweight, low cost alternative to Reuters' Kobra system. The package is currently being piloted at eight firms, from mid-size brokers to tier one investment banks in both the US and Europe.
Unveiled publicly for the first time at the Finexpo City Technology Strategies show in London today, Mongoose offers complete Reuters RTW-style functionality, plus embedded fundamentals, charting, media and Web browsing. The entire display appears in a standard browser and can be viewed on any PC anywhere.
Paul Caplin, CEO of Caplin describes Mongoose as a "breakthrough solution" for market data distribution. "Mongoose is entirely built on Web-based technology, and supplies the same reliability and depth of functionality as traditional market data networks, but at substantially lower cost and with far greater flexibility," he says.
Built on Caplin's Liberator platform, Mongoose emulates and extends the traditional Reuters front end. It accepts standard RIC codes and renders all Reuters 3000 series display templates. Mongoose also offers full Excel support including copy-and-paste functions, and is backwards compatible with spreadsheets built for Reuters DDE.
John Lee, formerly SVP for Reuters US sales, and now executive vice president for US sales at Caplin says: "Reuters has announced the withdrawal of its RTW and MarketSheet applications in order to push Kobra and has also stated that its RDMS platform is the strategic replacement for Triarch and TIB. At a time when budgets are seriously stretched, it seemed the least we could do was to offer the market an affordable lightweight alternative to these 'upgrades'."