- Solution fully evaluated and selected by RBS within two weeks
8th October 2003 - London - Mighter Gissing, the financial data handling specialist, today announced that Royal Bank of Scotland (RBS) has selected and implemented its RealtimeXL solution to increase its capacity for contribution and retrieval of market data via Microsoft Excel.
Mighter Gissing's RealtimeXL add-in integrates with Microsoft Excel to create a balance of flexibility and performance. This allows users to subscribe to data and publish their prices to market much faster than with other solutions whilst utilising less system resources, such as memory and CPU time, thereby reducing costs.
Flexibility and performance are mutually exclusive factors in most other Excel add-ins. Traditionally, banks could achieve either flexibility by taking prices directly from the underlying market data platform using an add-in, or performance by using Excel's Dynamic Data Exchange (DDE) protocol, but never both.
RealtimeXL removes this trade-off by using an ingenious method of triggering price re-calculations. When a price is updated, only the cell in which that price is held is refreshed, not the whole spreadsheet as is the case with most other add-ins. This means that users of RealtimeXL can, in many cases, achieve a more than 300% performance improvement in terms of real-time data retrieval and, at the same time, significantly lower processor and memory usage compared to other solutions currently available.
Fiachra O'Riain, Senior Technical Market Data Analyst, RBS comments: "As soon as we took RealtimeXL on an evaluation basis we could see that it would benefit us significantly. It enabled us to greatly increase the speed of both our contribution and retrieval via Excel, along with a vast reduction in processor usage. As a result, after only a short period of time evaluating, we decided to implement the system."
Richard Gissing, Managing Director, Mighter Gissing, adds: "RealtimeXL is a very intelligent and sophisticated product, yet easy to integrate. RBS has shown that, by using the right technology, it is possible to improve your contributions and real-time data retrieval via Excel with minimal time and effort. We are in discussions with a number of other organisations about what RealtimeXL can do for them and expect further announcements shortly."