Arcontech Group PLC (AIM:ARC), a financial market data processing specialist, has seen its share price jump by 11% following the announcement of a multi-year agreement with an unnamed tier-1 bank client for its CityVision platform.
Initial deployment will take place in New York and marks the beginning of a significant relationship with the institution, investors were told. The agreement is expected to expand to Europe and Asia, further solidifying Arcontech's market position.
"Arcontech was selected as we have tried and tested solutions for both large and small deployments as well as the ability to customise quickly to meet specific client requirements. The continual development of our systems also enables our clients to meet their resiliency, monitoring, data management, visualisation and reporting needs," said CEO Matthew Jeffs.
At 8.28 am, the shares were changing hands for 84.8p, up 8.3p.