London Stock Exchange: Proquote To Supply 500 Screens To TD Waterhouse

The London Stock Exchange today announced that Proquote, its trading and market data business, has secured its biggest deal to date with an agreement to supply 500 screens to TD Waterhouse.

TD Waterhouse, one of the UK’s largest execution-only brokers, has ordered the screens to support the launch of ProTrader^™, its integrated market data and dealing service that allows retail investors to access the same live market data that professional traders rely on.

The screens will be supplied in a phased approach, with the first 250 to be delivered to TD Waterhouse when ProTrader goes live on 10 May, and the rest to be delivered later this year. The new order follows one for 125 screens in September 2003, and means TD Waterhouse will be Proquote’s largest customer.

In addition to supplying screens, Proquote worked with TD Waterhouse to help develop the technical environment for its ProTrader service. "Working with Proquote has allowed us to develop a unique service for retail investors. ProTrader offers real-time in-depth market information delivered in a cost effective and user-friendly way, and integrated within our trading services to allow investors to follow the market as closely as the professionals and react instantly to market movements."

David Lester, CIO at the London Stock Exchange, said:
"We have further developed Proquote to ensure it meets the market’s need for functionally-rich, reasonably-priced market data and trading software. We are proud to be working with TD Waterhouse on their ProTrader project and are delighted to have won this contract."

Since the Exchange acquired the company in February 2003, Proquote has seen healthy growth in the number of installed screens, making it one of the UK's fastest growing market data and trading vendors.

Proquote now has 1,800 installed screens, not including the 500 that will be supplied to TD Waterhouse. It has 160 corporate client installations, including brokers such as Gerrards, Charles Stanley, Prudential Bache, Ramsey Crookall, Investec Henderson Crosthwaite, and Hichens Harrison.

Proquote recently won best "Information Display Services" at the Systems for the Securities Industry Awards. The award is significant as it is based on votes by actual systems users.