UK stockbrokers Killik & Co, Goy Harris Cartwright and Ramsey Crookall have gone live with Proquote's vendor access network (Van) system which provides direct trading access on the London Stock Exchange.
The LSE's Van initiative was developed to allow vendors to provide direct trading access to customers via their own proprietary links rather than having to link directly through a fixed Exchange connection.
The brokers are the first Proquote clients to begin operating on the network, which allows vendors to provide shared network facilities and connectivity options to customers trading on Sets.
Matthew Orr, managing partner of private client stockbroker Killik & Co, says: "Proquote's Van product allows us to make significant savings on our telecommunications bill. The product's modern technology provides us with a sophisticated trading system with none of the associated infrastructure costs."
LSE says its Van programme has been particularly welcomed by overseas customers, private client broking firms and start-ups as it allows them to reduce costs by minimising the number of connections to different trading venues.