SDS inks four year systems deal with Nybot
21 June 2006 | 2744 views | 0
Source: SDS Technologies
SDS Financial Technologies, a leading provider of electronic trading solutions and market data, today announced that it has entered into a 4-year systems development agreement with the New York Board of Trade (NYBOT), an international marketplace for agricultural and financial futures and options.
Under this new agreement, SDS will provide the NYBOT with the proprietary technology and software development they require to meet business demands associated with increasing data volumes, a growing range of trading instruments, greater transparency and enhanced services to the NYBOT members and customers.
The NYBOT will continue to benefit from SDS' strong record of on-time delivery of high-performance, real-time information and transaction systems. The result is faster development and deployment and increased profit by reducing overall costs associated with IT development.
"The New York Board of Trade is the world's leading soft commodity exchange, and one of our core goals is to provide our market users with both reliable and efficient services," said Steve Bass, Chief Information Officer at NYBOT. "Our long history with SDS has resulted in many new products, and we're very happy to be continuing this relationship."
SDS has been a vendor of choice with the NYBOT for more than 10 years developing customized, adaptable trading solutions to meet the NYBOT's key business objectives and IT requirements. Recently, SDS developed key compliance systems for the NYBOT in less than 2 months and an upgrade to the NYBOT's price reporting system in 3 months. Similar development efforts with other outsourced vendors have taken up to 12 months each to complete. As a result, the NYBOT realized substantial cost savings from the reduced development cycle and the immediate benefits of improved operational functionality.
When NYBOT wanted to provide an independent vehicle to bring NYBOT data to users globally and increase market data revenues, they looked to SDS. The result was NYBOTLIVE.com suite of platforms that deliver market data, charting and analytics in an eCommerce environment which allows users to view real-time or delayed data.
"We are excited to continue and expand our working relationship with the NYBOT. Our long-term contract to develop proprietary systems for NYBOT is a testament to our ability to deliver systems that businesses leverage to generate revenue," says Peter Maragos, managing director, SDS Financial Technologies. "We've enjoyed an excellent working relationship with the NYBOT and our proven expertise building financial technology systems and expert engineering resources will ensure that the NYBOT's best ideas will come to market."