Display.It Challenges Established $6 Billion Financial Information Industry with Real-Time Data Capabilities Unveiled Today at S.I.A. Conference in New York
NEW YORK — June 24, 1997 — Display.IT Holdings plc (OTC Bulletin Board Symbol: DYITY) in a move which potentially challenges the dominance of traditional financial data vendors, today announced the availability of an enhanced version of the Display.IT Workstation. The new system has the capability to display real-time, proprietary data from the likes of Reuters, Dow Jones and Bloomberg via Internet connection to a standard PC. At the Securities Industry Association (SIA) "Information Management Exhibit" opening at the New York Hilton today (booth No. 2212) Display.IT will unveil its prototype showing real-time data running on the Display.IT Workstation connected to a Reuters Triarch system via the Internet.
In the future this will allow authorized traders to access their Triarch platforms across the Internet, allowing them to work off site or from home. Internet access is not currently available from Triarch, nor most other proprietary market data distribution platforms. "This move means traders and other users currently paying premium rates for data will no longer be at the mercy of the traditional vendors who, until now, have dictated how and when this information is available, and, more importantly, at what cost," commented Peter Levin, Display.IT's CEO and Managing Director. "This is the first time since the arrival of the Internet that traders have a cost effective alternative to expensive data feeds which typically require both a dedicated connection and a proprietary market data distribution platform." Display.IT is a London-based company listed on the UK Ofex and traded over-the-counter in the U.S. The company anticipates soon to be listed in the U.S. on NASDAQ. Display.
IT Workstations, which cost a fraction of traditional "closed" systems, are in over 100,000 positions throughout the world. The company recently finalized a contract to supply 920,000 additional workstation licenses during the current financial year. With over one million Display.IT positions, the company would surpass Reuters, the "traditional" leader in financial data distribution. The Display.IT workstation uses a Microsoft Windows 95, Windows NT or Windows CE based browser to access financial data freely available via the Internet. The company is set to challenge the market dominance of suppliers such as Reuters, Bloomberg and Dow Jones.
The prototype being shown at SIA illustrates how Display.IT, in conjunction with the Internet, is overturning long-held perceptions of how and when people can access financial data. "Display.IT makes valuable financial information available to a far wider audience, such as off-floor and back office personnel in financial institutions as well as individual investors. In addition to our basic service, users only pay for the proprietary data sources they need, thereby paying a fraction of the price of traditional systems," continued Mr. Levin. Mr. Levin foresees a time when a single Microsoft compatible device, whether a standard PC, one of the new handheld computers, or even the new generation of network computers will replace the traditional clutter of workstations, screens and cables on the trader's desk. "One of the key benefits of Display.IT is that the cost of ownership will be slashed, which will reduce a trader's overhead and increase individual profitability.
For the private investor it provides a powerful and inexpensive way to match the very best trading technology, normally available only to large financial organizations," Mr. Levin said. Display.IT Holdings plc, through a wholly-owned subsidiary, develops and markets Windows-based software providing institutional traders and individual users alike with the ability to access financial market data published over the Internet. Information is gathered from over 250 Web sites and covers financial news and over 135,000 financial instruments ranging from equities and bonds to highly specialized instruments. This release, other than historical financial information, may consist of forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by the Company with the SEC, specifically the most recent reports on Forms 20F, which identifies important risk factors that could cause actual results to differ from those contained in the forward-looking statements.
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