Royal London Asset Management (RLAM) has signed a license agreement for the installation of QuoteTerminal systems from Knowledge Technology Solutions (KTS) as part of a drive to rationalise market data costs in its UK business.
The QuoteTerminal system provides a stream of UK-specific news, data and analysis from third party sources over low-cost Internet and wireless distribution channels.
Jerry Day, IT manager at RLAM, says: "We have had to look closely at our market data costs for this coming year and the QuoteTerminal solution offers us an extremely cost effective and portable method of addressing a substantial portion of our requirement."
He says there is potential for RLAM to place an additional order for MarketTerminal, KTS’s international market data product, once it launches later this year. MarketTerminal, which will cover markets such as Nasdaq, Nyse and Euronext, may replace further proprietary terminals used in RLAM's non-UK divisions.
Marc Pinter-Krainer, chief executive of KTS, comments: "As market data managers review their financial data and news needs, we are witnessing increasing sales and interest in QuoteTerminal from institutions seeking more cost-effective alternatives to Bloomberg and Reuters."