Royal Bank of Scotland updates trading portal

The Royal Bank of Scotland has updated the software underpinning its foreign exchange trading service.

The Royal Bank of Scotland has updated the software underpinning its foreign exchange trading service.

The bank's FXstream foreign exchange portal, one of the 10 largest global foreign exchange banks by average daily turnover, uses software from Caplin Systems to stream currency prices to traders over the internet.

Traders access the live pricing information on more than 60 currencies though an internet browser.

The Caplin Liberator software runs on Sun Microsystems' Solaris operating system. Each Liberator server can deliver 1.25 million user updates a second and can serve more than 10,000 concurrent users.

Martin Spurr, head of e-ventures at RBS, said the bank needed to upgrade its technology through the investment, thought to be worth £500,000, because the previous system it used to exchange trading information could not cope with rising demand.

"We first launched FXstream in 2003, offering live pricing and trade entry to our clients on a 24-hour basis," Spurr said.

"As market demand increased, it became necessary to upgrade the technology that supported the real-time element of the portal to ensure it would continue to provide the level of service our clients expect."

Another problem with the previous system was that some users could not see currency prices because problems with firewalls and servers meant that pricing information was sometimes delayed.

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