GISSING SOFTWARE LAUNCHES REALTIMEXL, THE NEW GENERATION OF REAL-TIME PRICING TOOLS, AT DWT NEW YORK 2005

New York and London, 14 March, 2005 - Gissing Software, solution specialists for the capture, distribution, and manipulation of real-time market and trade data, is showcasing RealtimeXL for high efficiency handling of real-time data in Microsoft Office Excel and custom applications, at DWT New York on 16 March, 2005.

Designed for anyone using real-time prices, RealtimeXL can be configured for use with multiple distribution platforms simultaneously. It delivers optimum performance with high volumes of data, faster calculation rates and low processor usage and features powerful conversion tools for an easy migration path from existing systems. RealtimeXL is currently installed at two major international investment banks.

At DWT New York, Richard Gissing, CTO, Gissing Software, will also be presenting ‘Real-time Data Spreadsheets: Are you being served?’ at 10.00am in the Library. This session will explore the needs of users of real-time spreadsheets in banks and broking operations, and how these can be met with RealtimeXL. DWT New York takes place at Union League Club, 38 East 37th Street.

Richard Gissing, CTO, Gissing Software, says: "Moves to new market data platforms and new Microsoft Excel products, are driving the need for systems that can take advantage of these environments. When making pricing decisions, our clients need to know their system is quick, accurate and can handle the volumes of required data. RealtimeXL meets both the IT and business needs of the market for real-time pricing tools."

To cater for different types of users, there are three editions of RealtimeXL –View, Standard and Plus. RealtimeXL View is subscription-only with less extensive functionality, saving as much as 80% over existing products. RealtimeXL View essentially provides the same high performance for users, such as analysts and back-office staff, who only need to receive data for viewing and manipulation within the spreadsheet. RealtimeXL Standard can subscribe to prices and publish new ones to the market. Real-time prices can then be sent to a bank’s internal systems or to the market data vendors. RealtimeXL Plus allows access to an extensive functions library targeted at specific market sectors such as bonds and options.

Cost savings are a major driving force in today’s commercial environment. Unlike other products which provide a “one size fits all” approach, forcing users to pay for functionality that they do not require, RealtimeXL is configured and priced according to the end-users’ needs. A major global client was able to reduce its monthly spreadsheet cost by up to 50% with RealtimeXL Standard.

Migration to new spreadsheet tools can be an issue, given the large numbers of spreadsheets used in financial institutions. The RealtimeXL converter can be installed on a PC or server. It scans for all existing real-time spreadsheets and transforms them into the RealtimeXL environment with full audit control, making it a quick and seamless process.

The flexible architecture of RealtimeXL means it can be easily integrated to third party applications and real-time data systems. The underlying RealtimeXL engine can be used as a plug-in tool set to create seamless interfaces to multiple data sources within the organisation. With the new RealtimeXL interface to ConteX MCS from Gissing, banks can easily increase the volume and speed of their contributions. Publications and subscriptions can also be throttled and timings set to limit their number and frequency. This aids the maximum performance optimisation of the company’s network.

With large and complex spreadsheets, performance problems arise with calculations. Existing products force frequent updates and the recalculation of every formula and cell when any change is made. This decreases the speed of calculations and increases processor usage, making it virtually impossible to use the system effectively for other software. RealtimeXL’s high performance is achieved by recalculating only the cells that need updating.

Richard Gissing continues: "In performance tests at a current client, with large complex spreadsheets, they are seeing subscription rates to market prices up by 400%, and publication to the market is 600% faster than the existing system. RealtimeXL is also able to re-calculate 120,000 cells containing real-time subscriptions in under a second and is constantly stable. We will use RealtimeXL’s modern, adaptable technology to continually add new features in line with market demand."

RealtimeXL supports Microsoft Office Excel 97, Excel XP and Excel 2003. Performance with Microsoft Office Excel 97 is higher than with existing solutions. This increases further still when RealtimeXL is used with Microsoft Office Excel XP and 2003, taking full advantage of Microsoft’s RTD, for real-time data handling with improved reliability.

Support for custom application development in Microsoft’s Visual Basic and C++ is available now and .NET support will be available by mid 2005. By using RealtimeXL’s market data connectivity and COM object support, custom application developers using Microsoft Visual Basic, C++ or other languages, can focus on the application’s functionality and look and feel whilst leaving RealtimeXL to manage the market data. The result is a shortened development and testing cycle with improved product quality and performance.

Mike Pryke-Smith, Marketing Manager, Information Worker Group, Microsoft UK, comments: "Microsoft Office Excel is the most widely used application in the financial services industry and users are always looking for higher performance and greater reliability. Gissing’s RealtimeXL makes maximum benefit of the new RTD function found in Microsoft Office 2003 and allows users to build spreadsheet models that are larger, faster and more sophisticated than ever before. Microsoft Office 2003 combined with RealtimeXL's new architecture represents a major step forward for financial users of Excel."

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