28 October 2002, London: Abbey National Treasury Services (ANTS), part of the Abbey National Group – the sixth largest banking group in the UK, has selected London-based real-time software specialist Arcontech to implement a new rates contribution system.
ANTS selected the Arcontech CityVision contribution system and RTP infrastructure to replace its existing page-based system after considering a number of alternatives in the market. The system is used to contribute ANTS data to real-time financial data services including Reuters, Bloomberg, and MoneyLine Telerate.
The new system replaces an internal mechanism that ANTS had developed itself. The new system contributes to multiple services from a single point, a feature of the Arcontech Multiple Vendor Contribution Software (MVCS). In the Arcontech system, the CityVision RTP (Real Time Publisher) data hub automatically processes the data and routes it to the various vendors.
A particular requirement was to contribute to the Libor rate calculation page maintained by MoneyLine Telerate using software developed by Arcontech.
"Arcontech's flexibility meant that we were able to enhance the system in a number of ways to accommodate specific requirements that Abbey National Treasury Services had," said Andrew Miller, managing director of Arcontech. "Those enhancements were incorporated in the standard product for the benefit of all our customers."
ANTS completed the installation of the Arcontech software in May of this year, switching its price contributions across to the new system starting with MoneyLine Telerate. The software can also support contributions to web-based pricing services using a secure FTP connection.
A duplicate Arcontech system is currently being installed at Abbey National's new headquarters building and is scheduled to go live at the end of November.
Arcontech software is already used for data contribution by clients including Bank of England, HM Treasury, Lloyds TSB, Citibank, Sporting Index, Financial Spreads and Thomson Global Markets.