DrKW to deliver bond and gilt quotes over Proquote
14 June 2006 | 1554 views | 0
Source: Dresdner Kleinwort Wasserstein
Dresdner Kleinwort Wasserstein (DrKW), the investment bank of Dresdner Bank AG, today announced that it has become the first bank to offer a full range of tradeable bond prices over the London Stock Exchange's Proquote system, commencing with gilts.
Proquote is a provider of global and UK centric financial market data and trading functionality to over 3000 terminals and 200 corporate clients. The move by DrKW to offer bond and gilt prices and trading over Proquote is aimed at the Private Client Investment Management (PCIM) community.
The provision of bond and gilt prices over Proquote represents a significant first for DrKW and gives PCIMs the opportunity to access and trade on prices that have previously been unavailable to them. Proquote delivers prices and functionality direct to users via a PC or laptop with no additional infrastructure and volume requirements required at the customer site.
"Offering bond and gilt prices to clients who would not be able to access the market ordinarily is an important development for those clients. Not only are we responding to the demand from smaller ticket players to access the bond markets but we are responding to the increasingly strong desire from investors to diversify their trading strategy across asset classes," said Sean Park, head of Digital Markets at DrKW. "This is testament to the focus of our Digital Markets business to provide customers with unrivalled service levels and access to the financial markets through electronic trading and delivery."
"PCIMs widely use Proquote for market data and trading with our expanding list of execution venues and capabilities. Proquote is leading the field in value and innovation" said Karen Young, Director of Proquote. "Trading and accessing prices for bonds requires significant investment in IT resource and systems through other vendors, but through Proquote, PCIMs will benefit from low cost access to bond prices and trading functionality that requires little or no client infrastructure."