Many companies spend large sums on developing and maintaining in-house systems to provide up-to-date market data. But McGregor’s product, Real-Time, will enable them to outsource this function, achieving the same level of coverage at a lower cost, said product manager Glenn Orford.

“Our real-time data product will not only deliver a very competitive offering in terms of price and functionality, but our ability to customise the solution based on the client’s specific requirements will undoubtedly make it quick and easy to slot into existing systems,” he said.

McGregor would work with customers to determine the level of customisation required, allowing them to integrate Real-Time without major redevelopment of their existing systems.

Operations head Sandy Kerkhove said companies could pay either a flat monthly rate or a fee per user. The cost would vary widely depending on factors such as the number of users and whether the client wanted access to fundamental components such as financial ratios.

But she said that McGregor was in discussions to provide the product to one client at a monthly rate of R55 per terminal, excluding JSE royalties.

Kerkhove said introducing real-time foreign exchange rate data was an “urgent” priority. The service should be available within the next two to three months.

But McGregor had not decided whether or not to introduce real-time coverage of securities exchanges other than the JSE.

Chief information officer Riaan van Niekerk said the new product had been in development for more than eight months.

“It’s one of our most complex pieces of development,” he said.