UBS, the investment bank, will provide its clients with real time option prices through an agreement with Caplin Systems, a market data vendor that offers a low-cost alternative to industry behemoths such as Reuters and Bloomberg.

UBS originally licensed Caplin's real time text protocol, a technology format that allows web pages to carry real time market data, for its employees. The bank will now provide over 500 clients with derivatives market data sent through Caplin's real time text protocol-based system.