Arcontech sees 'noteworthy increase' in uptake of Excelerator

Financial data services provider Arcontech said Monday its real-time market data Excel Add-in, Excelerator, had seen a 'noteworthy increase' in users at one of its clients, a leading US Investment bank.

Under a new multi-year agreement reached in 2018, the latest user count in January 2019 showed the Excelerator user base to have grown by just over 100% since the end of 2018.

Users of Arcontech's desktop solution software at the same client had increased to 40, the company confirmed.

If the current user base was maintained, then it would result in an annualised increase in revenues of approximately £200,000 per annum, underpinning the board's expected financial performance for the Company for the financial year ending 30 June 2019, the company said.

At 8:48am: (LON:ARC) Arcontech Group PLC share price was +7.5p at 132.5p