RBC Capital Markets Selects Vhayu Velocity to Power Transaction Cost Analysis for U.S and Canadian Equities

Los Gatos, CA - 4 December 2006

Vhayu, a leader in streaming tick processing and persistence software, today announced that Royal Bank of Canada (RBC)Capital Markets has selected Vhayu VelocityTM to provide Transaction Cost Analysis (TCA) calculations for RBC’s proprietary equities trading division.

The implementation follows client demand to capture and integrate U.S. and Canadian equities data received through Reuters RMDS, perform real-time analytics in milliseconds, and publish the results to a customized RBC front end. As a result, latency is dramatically reduced and the bank’s trading programs enhanced with a comprehensive solution to enable precise pre-and post-trade calculations.

"Our previous tick processing and persistence software provided us with historical post trade analysis only,” noted Stephen Bain, director of electronic execution services at RBC Capital Markets. “As we moved to implement real-time TCA, we wanted both historical and real-time analytics from a single platform.”

Jeff Hudson, CEO of Vhayu, said, “There is a growing trend amongst brokers and major institutions to calculate TCA in real-time. As market structure changes drive down the size of trades and increase the amount of quotes, the ensuing avalanche of market data volumes will pose a significant challenge for firms. By selecting Vhayu, RBC Capital Markets can leverage the speed and scalability of Velocity to capture and analyze every tick of U.S. and Canadian equities data to make advantageous trading decisions. We are pleased that our unique patented technology will enable RBC to manage these volumes while delivering real-time TCA.”

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