Arcontech Group plc (AIM: ARC), a provider of enterprise real-time software solutions to the investment banking and broking sectors, is pleased to announce that a major international bank has deployed CityVision in production.
Global roll out is continuing, with the initial phase covering Europe, North America and Asia Pacific regions.
The deployment is part of an initiative to deploy data vendor independent solutions and is facilitated by Arcontech's "CityVision Adaptor" strategy announced in October last year. It will bring revenue to Arcontech in excess of £1m over three years and is expected to provide the bank with considerable cost savings, as well as streamlining and consolidating market data operations.
The CityVision system provides market data contribution to data vendors and redistributors including Thomson Reuters, Bloomberg, IDC and SIX Telekurs displacing the incumbent contributions systems. It also facilitates cross connectivity between other market data platforms and systems within the bank, enabling data received or generated on one to be viewed and processed by equipment connected to the other. This means that in many cases where two (or more) vendor terminals were required on the desktop, fewer are now required, therefore making possible a reduction in the overall terminal count with a dramatic commensurate cost saving.
Andrew Miller, CEO of Arcontech plc commented: "We've invested considerably in developing and fine-tuning our CityVision adapters; naturally, I am delighted to see that we are well on the way to recovering that investment. The configuration and components deployed comprise a vendor agnostic model that is repeatable across the investment banking community, giving users true choice and flexibility in their market data operations."