Arcontech Group plc (AIM: ARC), a provider of real-time software solutions to the investment banking and broking industry, has announced “CityVision Cache” a major development of its market data publishing system, supporting internal publishing as well as normalisation and cross connectivity between a variety of the industry’s major platforms and feed protocols.
The enhancement to its CityVision suite of market data components has been developed in response to repeated calls from the marketplace for technology to reduce dependence on systems from particular market data vendors, increase connectivity options and address concerns over regulatory compliance.
A “last-value cache” is a data store that supports real-time publishing of internally derived market data, for example, the bid and offer price of a bond derivative or a foreign exchange rate. Most market data platforms have this capability but it is generally limited to publishing within the specific platform. The CityVision Cache allows cross-connectivity between platforms, meaning that data it manages can be shared in real-time between the different platforms often present in investment banking firms, greatly reducing dependence on a particular platform, increasing choice and providing cost-saving opportunities.
The CityVision Cache also includes options for calculations, page shredding, derived instrument creation and outputs to multiple destinations, including vendor contributions, making it a highly flexible and connected component. Finally, where supported by the connected platform, audit trail capability means that inbound and outbound data can be logged and tracked to the individual user, giving user firms better visibility of data flows, allowing control and aiding compliance with regulations such as MiFID and Sarbanes Oxley, which require price audit trails.
“We’ve listened to demands from the market data industry for cross-connectivity and a vendor-neutral approach to price derivation and distribution technology,” said Andrew Miller, CEO of Arcontech plc. “CityVision Cache provides a unique, cost-effective and scalable solution to this challenge, giving infrastructure teams choice and end-users flexibility, adding value to the systems currently deployed.”
CityVision has seen accelerating global interest since Arcontech unveiled its “CityVision Adaptor” strategy in October last year, with many evaluations completed and deployments under way with international financial institutions. Demand is being driven by the desire to reduce costs and streamline operations. Arcontech’s vendor-independent solutions provide proven, highly reliable alternatives to decouple data transport and display from the traditional information terminal providers, facilitating downsizing of expensive terminal counts and displacement of infrastructure components.