Proquote

Market overview:

• The investment market is not an area of business that suffers from a lack of information. There are a large number of services available to stock market watchers and traders ranging from fairly inexpensive low level data sources to costly high-end trading platforms.
• At the high-end in particular, enormous consideration needs to be given not just to the overall cost of the chosen data service but also to its integration with the numerous other systems required to provide the complete enterprise trading solution.

Challenge :

• Proquote's key objective is to deliver comprehensive and accurate market information via a public network. This enables the provision of an online service to both professional and private investors at a fraction of the cost of established terminal systems making Proquote the first mass-market product in this competitive arena.
• The challenge therefore was to deliver a performant, functional and secure system that met the needs of brokers and investors but allowed cost reductions to be passed directly onto clients.
• In addition, the system needed to possess the necessary flexibility to allow integration with the multitude of complementary systems running in stock brokers, market makers, investment banks and all other target financial institutions.

Customer:

• AXL was involved from the very start of the project and continues to support Proquote with maintenance and ongoing development of enhancements. Our consultancy services were initially used to define both the technology to be employed and the nature of the market data required. The development and testing of the initial service took around 12 months and this work still continues.The combination of reliable support of the live service with extension of functions through new and innovative developments is helping to keep Proquote at the forefront of market data delivery today.