New York, NY â June 20, 2005â Based on customer demand, Reuters (LSE: RTR, NASDAQ: RTRSY), the global information company, and Sun Microsystems, Inc. (NASDAQ: SUNW) today broadened the availability of Reuters Market Data System (RMDS) to run on Solaris 10, Sunâs flagship operating system. The agreement is an effort by the two companies to increase performance and reduce latency in algorithmic trading. Additionally, Reuters has announced that future generations of RMDS will support Sun's new x64 platform. RMDS on Solaris 10 and x64 (64-bit) platforms will allow customers to better manage market data content in real-time across a trading environment.
Larry Tabb, President of Tabb Group, said: "Algorithmic trading and direct market access are the biggest disruptors in modern-day markets going from virtually 0% to 31% of institutional order flow over the past five years. To manage technology in this environment, firms need a massively reliable, scalable, and real-time platform with virtually zero latency as firms now have to cope with market data speeds of up to 70,000 ticks per second. To capture, analyze, and take advantage of data moving this fast latency becomes more critical as milliseconds really matter."
Michael Parlapiano, EVP, Information Management Solutions at Reuters, said: âReuters customers ask for increased choice, lower costs and lower latency. In response, we will offer new and existing RMDS customers the additional benefits available from Solaris 10. This deal exemplifies our commitment to meet customer needs by providing them with outstanding platform choices for our products."
Stuart Wells, EVP, Strategic Development and Sun Financing, Sun Microsystems, said: "Latency is mission critical in the increasingly competitive landscape, and we are pleased that Sun's R&D and partnership with Reuters has helped further close the gap. We appreciate that Reuters has extended the choices for its financial customers, and we look forward to future decades of successful deployments on Solaris."
Reuters will set up "proof-of-concept" trials for qualified customers. RMDS on Solaris 10 OS is targeted for general availability by the end of 2005. To promote the new offering, the companies will join forces on global marketing activities. Reuters and Sun have teamed for over 20 years to provide reliable and powerful systems and services to the financial services industry.