Interactive Data Announces Wide-Ranging MiFID Offerings
April 25 2007 - 8:30AM
Business Wire
Interactive Data Corporation (NYSE: IDC), a leading provider of
financial market data, analytics and related services, today
announced that the expertise across its businesses has been brought
together to offer a broad, cohesive range of data and services to
help customers comply with the obligations that will be imposed by
the Markets in Financial Instruments Directive (MiFID). Interactive
Data�s real-time and reference data services � including new
bespoke services � can help customers with the requirements of pre-
and post-trade transparency, evidencing best execution, trade venue
selection and reviews of order execution policy, code of conduct
and client classification obligations, transaction reporting,
managing conflicts of interest and managing risk. MiFID, which will
be implemented in European Union (EU) member states in November
2007, broadens and strengthens regulation across Europe. It
introduces a single market and regulatory regime for investment
services across the 27 EU member states, plus Iceland, Norway and
Liechtenstein (European Economic Area states), which have chosen to
adopt the requirements of MiFID. Interactive Data has been
proactively involved in MiFID research and planning for well over
two years and has held regular meetings with customers, software
and application vendors, and relevant organisations to better
understand the needs of the industry. Interactive Data is also a
regular participant in the MiFID Joint Working Group and its
related subject groups, and its senior managers are frequently
called on to speak at MiFID-related events. Such involvement has
contributed to the breadth and depth of Interactive Data�s overall
suite of offerings that spans the enterprise. Roger Sargeant,
managing director of Interactive Data (Europe) Ltd., commented:
�The Interactive Data businesses have worked together to develop a
powerful range of services to help firms meet their compliance
obligations, including increased credit, market and operational
risk management requirements. We intend to continue to work with
the industry to provide our customers with access to a broad range
of information through flexible offerings that can seamlessly
integrate into their workflow. Our MiFID-related offerings further
demonstrate this commitment.� Through its Real-Time Services
business, Interactive Data will collect and disseminate pre- and
post trade pricing information from new sources via its low
latency, digital datafeed service, PlusFeedSM. This can allow
clients to easily aggregate data across the numerous trading venues
and generate a combined and overall view of market activity. Data
collection tools and a customised website are designed to help
investment firms operating as systematic internalisers (SIs) to
meet their pre-trade transparency obligations. A new tick-data
repository of pre- and post-trade information, ready to store data
from 1 November 2007, can help investment firms identify the best
execution price from across numerous trade venues in accordance
with their order execution policy. The tick-data repository can
also help investment firms periodically review the trade venues
identified in their order execution policies in accordance with
MiFID. MiFID Advisor Suite, a new customised service from
Interactive Data Managed Solutions, has been designed to help
investment firms comply with their MiFID code of conduct
obligations, enabling online classification of clients, suitability
check of investments, portfolio valuation and historical record
keeping. Interactive Data�s Pricing and Reference Data business
provides tools to help post-trade pricing operations departments of
investment firms efficiently calculate an investment fund�s Net
Asset Value (NAV) or to value a portfolio. Its Fair Value
Information Service can be used if no current market price is
available. In addition, a huge raft of existing and new high
quality reference data offered by Interactive Data�s businesses
will be available to help identify trade venues and their types by
location codes, the most relevant market for an instrument, whether
an instrument is within the scope of MiFID, the instrument type and
whether it is complex or non-complex. The reference data identifies
the classification of a financial instrument code (CFI), the Unique
or Unambiguous Instrument Identifier (UII), a share�s liquid status
and its deferred publication delay potential. Interactive Data,
through its Pricing and Reference Data business, also offers
services to help its customers manage conflicts of interest and
risk as imposed by the Capital Requirements Directive (CRD). Its
risk and analytical data service can help customers comply with
market risk obligations, its business entity data service with
credit risk obligations, and its credit operational risk services
with operational risk obligations. Bob Cumberbatch, business lines
director, Interactive Data (Europe) Ltd., added: �Interactive Data
will continue to be an aggregator, as well as a distributor of data
from other aggregators, trade venues and for investment firms who
choose to publish their data directly to the market. Our pricing
source and reference data stores will be ready to receive data to
be published by regulators in time for testing well before the 1
November live date, whilst our tick history will be ready to store
data from 1 November 2007 onwards.� 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.
Pricing, evaluations and reference data are provided in the US
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 Interactive DataSM and the Interactive Data
logo are service marks of Interactive Data Corporation. PlusFeedSM
is a service mark of Interactive Data Real-Time Services, Inc.
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