RBC Capital Markets implements Vhayu Velocity

Date: Monday, December 4, 2006
Author: Finextra.com

Royal Bank of Canada (RBC) Capital Markets has implemented market data technology from California-based Vhayu Technologies which it will use to provide transaction cost analysis (TCA) calculations for its proprietary equities trading division.

RBC Capital Markets has installed the Vhayu Velocity platform following client demand to capture and integrate US and Canadian equities data received through Reuters RMDS.

Vhayu says the technology will perform real-time analytics in milliseconds,and publish the results to a customised RBC front end. As a result, latency is dramatically reduced.

Stephen Bain, director of electronic execution services at RBC Capital Markets, says the Vhayu software replaces previous tick processing and persistence software that only provided historical post trade analysis.

"As we moved to implement real-time TCA, we wanted both historical and real-time analytics from a single platform," he says.

Jeff Hudson, CEO of Vhayu, says there is a growing trend amongst brokers and institutions to calculate TCA in real-time. He says the Vhayu Velocity platform will enable RBC Capital Markets to "capture and analyse every tick of US and Canadian equities data to make advantageous trading decisions".