Oriasis has launched a new service delivering intraday and historical data from the JSE, SA Futures Exchange, Bond Exchange and news from Independent Online directly to clients` desktops.
Oriasis, an information provider to the equities and equity derivatives market in southern Africa, says that complementing this is a selection of international data and news required by the South African market.
The company says the technology was developed by Greek software company Origin Software, and is based on Visual Basic technology.
Addressing the question of why Oriasis would develop a system which already has competition, marketing and sales manager Anton Starling says: "Data is becoming a commodity, and user costs consistently spiral, the conventional systems in place reduce the core value for mission-critical data.
"Oriasis has a simple, low-cost technology, which provides the same quality data as other information providers, but is built on a unique formula that will ensure that users get what they pay for, no more and no less.
"The philosophy translates into maximising value for data by stripping out all unnecessary added value and expensive infrastructure, notwithstanding front-end software whose functionality is never optimised."
He says the market is bearing the cost of suppliers differentiating their products with expensive and complex systems, while users probably only use a small percentage of the abilities.
"In real terms this is a waste of hard-earned money. We believe the market is stagnant, and we will offer an undiluted service as the best and premier alternative."
He adds that the timing allows Oriasis to take advantage of the opportunities now available with the advent of the strategic direction being implemented by the JSE embracing the SETS trading and information system.
"Oriasis will be providing services to the African equities market, and this integration will assist with the positioning of southern Africa within a global perspective."
Oriasis will deliver data using digital satellite technology. The system will also operate with the conventional use of diginet lines.
Starling says the company will launch additional services in the near future as phase two of the roll-out. "Phase two will be historical unit trusts, financial statements and portfolio management systems. We will retain the same philosophy of providing simple and effective products at low cost to the buy side of the market to maximise value for all disciplines within the customer enterprise."
Among other data, the Oriasis system offers real-time JSE and Safex feeds, the SENS news service, Bond Exchange reports, corporate news, market news, global news and indices, SA rates for liquid gilts, precious metal prices and foreign exchange cross rates.
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