Press releases 2003
05 September 2003
Proquote signs up new Retail Service Provider
City traders using Proquote screens now have an even larger choice of trading options after investment bank Dresdner Kleinwort Wasserstein (DrKW) joined Proquote's system as a Retail Service Provider (RSP).
RSPs, such as DrKW's bestconnect™, provide equities trading and price quotation services, and DrKW's involvement is a significant development because it is one of the largest RSPs in the London market. The bank will provide prices alongside existing Proquote RSPs Merrill Lynch, Winterflood Securities, Aitken Campbell, KBC Peel Hunt, and Evolution Beeson Gregory.
Maneesh Jain, Head of bestconnect™ at DrKW, said:
"We are delighted to be able to offer Proquote users access to DrKW's full range of UK stocks via our bestconnect platform. We look forward to working with Proquote in the future to broaden the range of products and services offered."
Proquote, established three years ago, is a growing software business supplying a competitively priced, browser-based product that allows market professionals to access real time price data and market information, as well as trade online. The London Stock Exchange acquired the company in January 2003 and it is now run as a wholly-owned subsidiary of the Exchange.
David Lester, the Exchange's CIO, said:
"The Exchange acquired Proquote because we could see there was growing demand for functionally-rich but reasonably priced trading screens and Proquote is without doubt leading the pack of new entrants in this market. We are delighted that DrKW has decided to become a Proquote RSP because their involvement will further extend the appeal of the product."
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Proquote is the most established and functionally rich member of a new generation of real-time trading and market data systems, providing huge reductions in cost of ownership. Proquote combines extensive market knowledge, modern technology, flexibility and speed to deliver live market information and trading functionality to standard desktop PCs or laptops with no infrastructure required at the customer site.
Features include Level I and Level II real-time data and prices from the London Stock Exchange; real-time data from other exchanges including Euronext, Xetra and Nasdaq; indices from the leading global markets; RNS and AFX news feeds; LIFFE options and futures data; comprehensive fundamental data, broker forecasts and directors' share dealings; stock lists, alerts, news, trade and price tickers; and foreign exchange and trading histories. Data is supplied in real time and supported by comprehensive analytical and charting tools.
About DrKW and bestconnect™
Dresdner Kleinwort Wasserstein (DrKW) is the investment bank within the Corporates and Markets Division of Dresdner Bank AG, a member of the Allianz Group since July 2001. Headquartered in London, Frankfurt and New York, DrKW provides a wide range of investment bank products and services to European and international clients through its Capital Markets and Corporate Finance & Advisory business lines. bestconnect™ is DrKW's electronic dealing service aimed at retail stockbrokers and discretionary wealth managers. It supports both deal-at-quote executions and limit orders in more than 2,100 UK and European stocks. Recognised as one of the first Retail Service Providers (RSP), bestconnect™ has a leading share of the UK equity market. For more information, see www.bestconnect.com