Boosts Performance for Algorithmic Trading Customers to Benefit from Lower Latency and Improved Total Cost of Ownership on Award-Winning Platform
Based on customer demand, Reuters (LSE:RTR, NASDAQ:RTRSY), the global information company, and Sun Microsystems, Inc. (NASDAQ:SUNW – News) today broadened the availability of Reuters Market Data System (RMDS) to run on Solaris 10 Operating System (OS). 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: “Reuters 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 OS.”
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.
About Reuters
Reuters (www.reuters.com), the global information company, provides indispensable information tailored for professionals in the financial services, media and corporate markets. Its trusted information drives decision making across the globe based on a reputation for speed, accuracy and independence. Reuters has 14,500 staff in 91 countries. This includes 2,300 editorial staff in 196 bureaux serving 129 countries, making Reuters the world’s largest international multimedia news agency. In 2004, Reuters Group revenues were GBP 2.9 billion.
Reuters and the sphere logo are the trade-marks of the Reuters group of companies.
About Sun Microsystems, Inc.
A singular vision — “The Network Is The Computer” — guides Sun in the development of technologies that power the world’s most important markets. Sun’s philosophy of sharing innovation and building communities is at the forefront of the next wave of computing: the Participation Age. Sun can be found in more than 100 countries and on the Web at http://sun.com.
Sun, Sun Microsystems, the Sun logo, Solaris and The Network Is The Computer are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries.