Percival goes live with new trading platform REVENUE at the Barbados Stock Exchange
“We are used to competing against bigger vendors and we’ll do what have always done: provide highly flexible and functional systems that actually work for a sensible price” – Chris Richardson, CEO of Percival
Percival Software has gone live with its new trading platform, REVENUE, at the Barbados Stock Exchange.
REVENUE is a multi-currency, multi-venue trading platform product that is designed to be able to handle market operations for multiple exchanges or trading venues from a single integrated platform and can be used as a core system on which to build a regional market.
The firm aims to design and develop highly configurable and scalable CSD platforms and it says the new REVENUE trading platform product achieves exactly that.
The trading platform allows an extensive range of configuration features to define new exchanges and their separate markets, including the ability to clone configuration settings from working exchanges and markets to fast track the onboarding process.
Fully integrated with Percival’s CSD solution, DEPEND, including support for tightly-coupled pre-validation, the REVENUE trading platform can be integrated with multiple CSDs or settlement systems.
Chris Richardson, CEO of Percival, commented: “We are proud of our new REVENUE product and we believe it will prove to be even more successful than our CSD solution; for Percival, it’s a natural extension of our product portfolio. We are used to competing against bigger vendors and we’ll do what have always done: provide highly flexible and functional systems that actually work for a sensible price”.
Marlon Yarde, Managing Director of the Barbados Stock Exchange Inc. (BSE) said: “The BSE has had a long and mutually beneficial business relationship with Percival. Our subsidiary the Barbados Central Securities Depository Inc. has been utilizing Percival’s CSD system DEPEND for the last eleven (11) years.
“Percival’s foray into the Exchange Trading Platform space was fortuitous for us as it coincided neatly with our need to have a Trading Platform that was versatile, robust, scalable and could integrate seamlessly with our CSD system. REVENUE of Percival meets our needs.
“We are proud to be a partner in its development, consequently we are getting a product that meets our current needs and our future development plans, for example, direct trading by retail investors. Dr. Chris Richardson and the team at Percival are dear friends and supporters of the BSE Group of Companies. We look forward to REVENUE assisting us in developing the Barbados capital market”, Marlon Yarde added.
REVENUE also supports Percival’s proprietary loan market, which allows brokers to bid for loan contracts subject to rules that mimic the well-known rules for continuous trading on normal markets and where the transactions result in the generation of repos through the integrated link with the CSD.