Arcontech Celebrates 25 Years

16/03/2004

London: Arcontech, the London-based real-time market data applications and middleware specialist is celebrating 25 years of continued business success.

Arcontech started developing custom solutions for financial institutions in 1979 and has since become one of the leading experts in real-time processing and messaging. Clients range from major investment banks and National Treasury through to on-line trading firms.

“It is particularly satisfying to have reached this milestone, maturing through the difficult market conditions of the past two years, ready for strong growth as the industry recovers,” said Andrew Miller, chief executive of Arcontech.

In recent years, Arcontech technology has been behind the rapid expansion in the internet-based spread betting markets. Implementation of an Arcontech service allowed leading financial spread-betting specialist City Index to quadruple its business in one year. City Index was subsequently voted best spread betting firm and CFD provider in 2002 and 2003 by Investors Chronicle magazine.

Through constant investment in leading edge technology, Arcontech has stayed at the forefront of developments in the field. “Financial sector users are among the most demanding and are constantly seeking to gain and retain a competitive edge through IT,” said Miller. “It’s been a busy twelve months, with significant change in the market. We’ve seen solid evidence, in terms of sales, that our product development and strategic alliances reflect growing customer demand for our technology.”

In January this year Tullett Financial Information selected Arcontech to provide a global distribution system – which will initially be implemented in London and New York – to bolster their direct offerings of market data to customers.

In August 2003, Arcontech signed a deal to work with Radianz to deliver their products and services over the Radianz network, offering a combined market data package that will allow institutions to share their data directly, avoiding the costs and inefficiencies of traditional vendors such as Bloomberg and MoneyLine Telerate.

In November 2003 Arcontech launched Excelerator 2, which allows users to exchange real-time data between Microsoft Excel spreadsheets and to include multiple sources, including vendor feeds. It works over StarNet, so can be a strategic component connecting producers and consumers of real-time market data globally.

In December 2003 a strategic marketing and technology alliance was announced with Cicada, a global provider of data validation and cleansing services.

“There have been incredible changes in the industry over the last 25 years” says Miller “and the pace of change continues to increase. Our clients have come to rely on Arcontech to continue to develop and support the most competitive solutions in a demanding market.”