Reuters, a news and information company, has implemented a Red Hat-based Linux solution for its financial data and stock quote system, the London-based conglomerate announced this morning.

Reuters, which delivers real-time financial information to clients around the world, said it collaborated with Raleigh-based Red Hat (Nasdaq” RHAT) to incorporate a “lower-cost, more flexible way to push market data.” The new product is known as Reuters Market Data System (RMDS).

Clients can use the Reuters service to not only track prices but also place orders.

Reuters had largely run its operations of Unix.

“There is a focus within financial services markets across the industry to reduce overall technology spending,” said software analyst Stacey Quandt of Giga Information Group in a statement. “This product addresses that.”

The project also includes Intel and HP.

Reuters announced the collaboration to develop the new service with Red Hat, Intel and HP last year.

Red Hat: www.redhat.com