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Interactive Data Supplies Data for ICAP Securities Lending Platform
9 May 2007 - London
Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related services, today announced that its Pricing and Reference Data business will supply interdealer broker ICAP with a wide range of pricing and reference data for i-Sec, ICAP’s new electronic trading platform for securities lending.
i-Sec enables traders active in securities finance to borrow or lend equities via a screen-based, electronic platform that combines a leading order matching system with a high-speed, high capacity and fully redundant communications network. The data supplied to i-Sec is being provided via an interface with Interactive Data’s FTSSM online portfolio administration service.
Securities lending is a huge and growing business for the professional investment community. An explosion in securities lending trading volumes through business expansion and increased algorithmic trading firms has combined with continued pressure on spreads for market participants and growing commoditisation of many transactions – an impact on profitability.
Roy Zimmerhansl, head of Securities Lending, ICAP, commented: “Electronic trading on i-Sec enables market participants to improve their distribution and leverage their relationships by bringing together multiple sources of supply and demand, increasing efficiency and reducing cost. The i-Sec platform has been designed by traders for traders, and offers functionalities that are not currently available in the market. With our existing client network and strong presence in electronic broking, ICAP is well positioned to add real value to the securities lending market.”
Brendan Beith, European sales director of Interactive Data’s Pricing and Reference Data business, added: “We are delighted that ICAP has selected Interactive Data as its preferred data vendor for this exciting new securities lending tool and look forward to working with ICAP to build on this new area of their business. We interface with over 250 application and software vendors, and have always strongly believed in flexibly offering our information in the preferred format of customers.”
Interactive Data Corporation Forward-looking and Cautionary Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Federal securities laws, and is subject to the safe-harbor created by such Act and laws. Forward-looking statements include our statements discussing future financial conditions, results or projections, including statements relating to (i) the anticipated impact of the Xcitek Market Data acquisition on our business, including any impact on our earnings and cash flow, (ii) the anticipated timing of the closing, (iii) our plans to expand the services we offer to Xcitek Market Data, Interactive Data Pricing and Reference Data or Interactive Data customers, (iv) our ability to penetrate new markets for our services as a result of the acquisition and accomplish our other strategic objectives, (v) our ability to facilitate better use of our content by our customers, and (vi) our plans to combine Xcitek Market Data and Interactive Data Pricing and Reference Data’s products and services to achieve cost-savings synergies and revenue growth. These statements are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause actual results to be materially different from those contemplated by the forward-looking statements. Such factors include: the acquisition may not close on a timely basis or at all; our ability to successfully integrate the Xcitek Market Data business; and our ability to retain key employees of Xcitek Market Data. Other factors include, but are not limited to: (i) the presence of competitors with greater financial resources than ours and their strategic response to our services and products; (ii) a possible decline in activity levels in the global securities markets; (iii) new offerings by competitors or new technologies that could cause our products or services to become less competitive or obsolete; and (iv) other factors identified in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission. We undertake no obligation to update these forward-looking statements.
About Xcitek Market Data
Xcitek’s market data offerings include Corporate Actions, Municipal Actions, Cost Basis, Class Actions, Securities Payments, and other financial data. We serve over 2,000 institutional clients worldwide, directly and through our distributors. Our information impacts millions of investors through brokerage, trust and custody statements. Ranked #1 for more than ten consecutive years by The Summit Group, Xcitek has led all other providers in its category in such areas as data accuracy, data timeliness, coverage, and delivery reliability. User-friendly, flexible, and affordable, Xcitek’s web-based solutions deliver time-sensitive and critical information straight to the desk-top.
About Interactive Data Corporation
Interactive Data Corporation (NYSE: IDC) is a leading global provider of financial market data, analytics and related services to financial institutions, active traders and individual investors. The Company’s businesses supply time-sensitive pricing, evaluations and reference data for more than 3.5 million securities traded around the world, including hard-to-value instruments. Many of the world's best-known financial service and software companies subscribe to the Company's services in support of their trading, analysis, portfolio management and valuation activities. Through its businesses, Interactive Data Pricing and Reference Data, Interactive Data Real-Time Services, Interactive Data Fixed Income Analytics, and eSignal, the Company has approximately 2,200 employees in offices located throughout North America, Europe, Asia and Australia. The Company is headquartered in Bedford, Mass. Pearson plc (NYSE: PSO; LSE: PSON), an international media company, whose businesses include the Financial Times Group, Pearson Education, and the Penguin Group, owns approximately 62 percent of the outstanding common stock of Interactive Data Corporation.
Interactive Data Pricing and Reference Data provides global securities pricing, evaluations and reference data designed to support financial institutions’ and investment funds' pricing activities, securities operations, research and portfolio management. Interactive Data Pricing and Reference Data collects, edits, maintains and delivers data on more than 3.5 million securities, including daily evaluations for approximately 2.5 million fixed income and international equity issues. Interactive Data Pricing and Reference Data specializes in ‘hard-to-get’ information from emerging markets and evaluates many ‘hard-to value’ instruments.
Pricing, evaluations and reference data are provided in the U.S. through Interactive Data Pricing and Reference Data, Inc. and internationally through Interactive Data (Europe) Ltd. and Interactive Data (Australia) Pty Ltd.
For more information about Interactive Data Corporation and its businesses, please visit www.interactivedata.com.
For More Information:
Investors
Andrew Kramer
Tel: +1 781-687-8306
Email: andrew.kramer@interactivedata.com
Media
John Coffey (US Media)
Tel: +1 781-687-8148
Email: john.coffey@interactivedata.com
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