Gissing Software (a Thomson Reuters company), the leading provider of multi-vendor market data contribution systems, today announced that Mitsubishi UFJ Securities International plc (MUSI) has upgraded to Gissing ConteX 4.
This has enabled MUSI to take full advantage of the enhanced calculation engine capabilities to maintain continuous two-way prices in-house.
Greg Bufton, Co-Head of the Quantitative Solutions Group, MUSI said, "Gissing remains a key technology partner for our business providing many benefits in terms of functional flexibility, ease of use, speed to market, etc. and excellent product, service and global support. The enhanced calculation engine capabilities of Gissing ConteX have enabled us to significantly improve our price dissemination to internal and external markets as our trading strategies have become more complex."
A real-life example of this was when MUSI wanted to maintain continuous two-way (bid & ask) prices in-house. These were derived from broker prices however which regularly showed either a single price (just bid or ask) or even no price at all. Using the calculation engine capabilities of Gissing ConteX 4, i.e. the derived data and validation modules, MUSI was able to recalculate a Bid-Ask spread whenever both Bid and Ask broker prices were available, and to use this Bid-Ask spread to recalculate the missing price when only one of Bid or Ask was available. When both were missing, the last derived Bid and Ask prices were returned. A valid outcome to calculations was therefore guaranteed as all source prices were first validated and rejected if found to not be numeric.
Paul Watmough, Global Head of Contributions Technology Sales, Thomson Reuters (Gissing) said, "We are delighted MUSI is taking full advantage of the enhanced calculation engine capabilities of Gissing ConteX for their specific business requirements. We have delivered functionality that is highly relevant to our investment banking client base as MUSI has successfully demonstrated. We are seeing increased demand for such capabilities and are committed to continue to evolve Gissing ConteX based on MUSI's and other customer requirements."
Gissing ConteX onteX is the world's most widely used real-time multi-vendor contribution system and is in use in over 60 customer sites worldwide.