ARCONTECH GROUP PLC
(“Arcontech”, the “Company” or the “Group”)
New client win to contribute data to Factset
Arcontech (AIM: ARC), the provider of products and services for real-time financial market data processing and trading, is pleased to announce the signing of a new Tier 1 bank client for its MVCS (Multi-Vendor Contribution System), which enables those that create market data content, whether instrument prices, results or statements, to be contributed to multiple vendors and internal consumers at the same time after updating only once.
Discussions commenced as the bank wished to contribute real-time prices to Factset where the bank’s clients wanted to view them for which their existing market–data infrastructure provider was unable to help. Although anticipated revenues are not expected to be material initially, it is the start of an important relationship with a Tier 1 global institution.
Matthew Jeffs, CEO of Arcontech said:
“We most frequently provide our software to enable contributions to be made to Bloomberg and Refinitiv, however, we are increasingly receiving requests to send client data to other vendors and venues like Factset and Tradeweb along with a need to repurpose data internally for example into risk management systems or use by other desks. More generally, regulatory pressures coupled with the need to reduce risk, are encouraging financial market participants to ensure any data sent to the market is managed and recorded for audit. We enable our clients to do this by consolidating the data so it is known exactly what is being sent to whom as well as to monitoring the data flow. The monitoring function can alert the client by e-mail and block the data if a price is not within market parameters or simply alert the administrator if a communications line fails. We therefore enable our clients to take action at the soonest possible moment to minimise any associated risks with their prices being sent to the market.”
|Arcontech Group plc
|020 7256 2300
|Richard Last, Chairman and Non-Executive Director
|Matthew Jeffs, Chief Executive
|finnCap Ltd (Nomad & Broker)
|020 7220 0500
|Carl Holmes/Simon Hicks
To access more information on the Group please visit: www.arcontech.com