Wombat Acquires Harco Technology.Unveils the Industry's Most Complete Market Data Management Platform NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Wombat Financial Software Inc., the leading provider of low latency Low latency allows human-unnoticeable delays between an input being processed and the corresponding output providing real time characteristics. This can be especially important for internet connections utilizing services such as online gaming and VOIP - VOIP is not as important as and direct feed market data solutions, today announced the acquisition of Harco Technology Ltd., the market data usage reporting and compliance technology experts, for an undisclosed sum. The acquisition of Harco, which services the market data spend management needs of over 70 trading floors worldwide with its Data Access and Reporting Tool (DART), is set to further enhance Wombat's product offering, and has already been applauded by many Wombat and Harco customers informed of the deal this week. The combination of Harco's best-of-breed usage and reporting product line and the Wombat Entitlements System, gives the company a compelling off-the-shelf exchange entitlements and usage reporting solution, more capable than any available in the market to date. Its open architecture allows the combined solution to be offered as a stand alone product, in addition to being implemented in conjunction with the Wombat market data distribution platform or with other common market data platforms. "The acquisition of Harco makes sense to both Wombat and Harco, and to customers alike. Rather than expending our efforts catching up to what Harco has achieved, we want to continue to move further ahead in areas of the industry that need the most attention," said Ron Verstappen, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Wombat. "There were so many complementary attributes between the two companies that none of us had any doubts as to it being the right move - and at the right time, too. This acquisition, along with the fact that we had already spent time integrating our products, gives customers a much more complete and integrated solution - in addition to being able to just take components of the entire solution incrementally," added Verstappen. Stuart Harvey Stuart "Stu" Harvey is a Melbourne, Australia based radio announcer. In 2004 he launched the punk/hardcore program on Triple J short.fast.loud. Before moving to Triple J, Harvey and Nick Kocsis (aka Nick Mondo) started the long running 3RRR punk radio show Mondo Bizarro. , Harco's Managing Director, said, "By combining Harco's product lines with the Wombat Entitlements System, we can together add significant value to our current client base and address the needs of a much larger market share. Customers will be able to save both time and expenditures when implementing a solution with our combined products." Harvey was also keen to emphasize that Harco clients can expect business as usual on its current product set, which will continue to develop and enhance going forward. The acquisition comes at a time when many securities exchanges have become more forceful force·ful adj. Characterized by or full of force; effective: was persuaded by the forceful speaker to register to vote; enacted forceful measures to reduce drug abuse. in trying to monetize the value of their market data products, including the possible imposition of significant financial penalties upon those who fail to properly control and report upon usage of their content. As a result, the management of market data and related spend has recently been transformed from a cost control issue to a critical business risk, with the responsibility falling squarely on the CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. and trading heads of management. Note to Editors About Wombat Wombat enables limitless connectivity to the global markets through the world's most advanced high speed market data infrastructure, the Wombat Platform. With offices in the US and UK, Wombat software underpins automated market-making systems, electronic-trading floors and tick-capture platforms in financial institutions around the world. The Wombat Platform includes Wombat Feed Handlers handlers persons involved in the handling of, for example, circus animals. Includes grooms, milkers, herdsmen, strappers. Used mostly in referring to persons handling animals for show or auction. , providing sub-millisecond connectivity to more than 80 direct exchange and aggregated vendor feeds; Wombat Transport, enabling high speed, multi-protocol messaging throughout the enterprise; Wombat APIs; and Wombat value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. servers such as the Wombat SuperBook virtual order book consolidator and the Wombat DBAC DBAC Deep Bleeder Acoustic Coagulation (DARPA Strategic Technology Office program) DBAC Data Base Administration Center DBAC Darasamutr Business Administration College (Thailand) tick-capture adapter A device that allows one system to connect to and work with another. An adapter is often a simple circuit that converts one set of signals to another; however, the term often refers to devices which are more accurately called "controllers. . For more information, visit http://www.wombatfs.com. About Harco Technology Since its formation in 1996, Harco Technology has become the market leader in vendor neutral market data entitlements/usage reporting. Eight of the world's top ten banks use Harco's DART application to report on access to exchange, specialist service and product data delivered from vendors like Reuters and Bloomberg. With offices in the UK and North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Harco software is used to monitor and control access to fee-liable real-time information in over 75 trading floors. DART is used by a bank's market data cost management team to identify service usage and to match the data consumed by a user or application to the most cost efficient service. DART will report on current and historical entitlements so that financial firms can be in compliance with regulations on user access to market data and rules concerning the redistribution of real-time data Real-time data denotes information that is delivered immediately after collection. There is no delay in the timeliness of the information provided. Some uses of this term confuse it with the term dynamic data. by banking applications. DART is fully integrated into all of the standard cost inventory management applications. For further information, please visit www.harcotechnology.com |
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