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Proquote signs up Panmure Gordon as retail service provider

04 October 2004  |  1383 views  |  0 Source: London Stock Exchange

Traders using Proquote market data and trading terminals now have an even larger choice of trading options after Panmure Gordon, a division of Lazard & Co. Ltd., joined Proquote's system as a Retail Service Provider (RSP) today.

RSPs, such as Panmure Gordon, provide equities trading and price quotation services, and Panmure Gordon's involvement is a significant development contributing to price improvement in the London market. Panmure Gordon will provide prices alongside existing Proquote RSPs which include Merrill Lynch, Winterflood Securities, Aitken Campbell, KBC Peel Hunt, Evolution Securities Limited, and Dresdner Kleinwort Wasserstein (DrKW).

Richard Wyatt, Chairman of Panmure Gordon, said today: "We are delighted to be able to offer Proquote users access to Panmure Gordon's range of UK stocks. This is a very positive step for investors, allowing them access to a greater range of execution venues. We look forward to working with Proquote to broaden the range of products and services offered."

Proquote, established in 1999, is one of the fastest growing software businesses in the City, supplying a competitively priced, browser-based product that allows market professionals to access real time price data and market information, as well as trade online. The London Stock Exchange acquired the company in January 2003 and it is now run as a wholly-owned subsidiary of the Exchange.

David Lester, Chief Information Officer of the London Stock Exchange, commented: "The Exchange acquired Proquote because we could see there was growing demand for functionally-rich but reasonably priced trading screens and Proquote is without doubt leading the pack of new entrants in this market. We are delighted that Panmure Gordon has decided to become a Proquote RSP because their involvement will further extend the appeal of the product."

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