Interactive Data Introduces Earlier Delivery Time for Global Reference Data
Jun 10, 2008
Interactive Data Corporation (NYSE: IDC), a provider of financial market data, analytics and related services, now delivers start-of-day reference data for North American Equities and in advance of the opening of trading in Europe through its Pricing and Reference Data business.
An increasing number of Interactive Data's clients have begun queuing their trades just after midnight for the start of the next day's trading, and the Company has responded by implementing an earlier delivery time for updated reference data including IPOs, de-listings, new ticker symbols and other changes that may have occurred since the prior day's end of trading.
According to the results of a survey of 412 institutions in 65 countries worldwide conducted by AIM Software for Interactive Data, 34 percent of respondents experienced problems related to delays in data delivery from financial data providers. Interactive Data's earlier reference data delivery time enables clients to build and maintain more precise security master files while facilitating the flow of data through the back, middle and front offices.
"Interactive Data's early delivery of critical reference data underscores our ability to respond to our clients' evolving requirements as well as offer an automated service that replaces a manual, often error prone process," said Robin Simpson, managing director of Reference Data, Interactive Data. "We pride ourselves on providing timely and accurate data that can help clients gain a competitive advantage by enabling them to begin their trading day on an accelerated schedule and curb the potential pitfalls of failed trades due to inaccurate data."
Interactive Data provides reference data to its clients at 1 a.m. ET and 8 a.m. ET through its Securities Information Retrieval Service (SIRS(TM)) to support start of day trading. SIRS is a fully automated reference data service for global securities.
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