Interactive Data Introduces Fair Value Information Service Covering International Equity Index Futures and International Equity
October 06 2008 - 9:00AM
Business Wire
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 now offers a
Fair Value Information Service that covers international equity
index futures as well as international exchange-listed and
over-the-counter (OTC) equity options. This service can help
institutions meet their fair value requirements for portfolios that
contain these financial instruments. U.S. mutual funds have
increasingly been incorporating international equity derivatives
into their portfolios in an effort to seek alpha for their
investors or for other purposes.(1) These fund complexes and their
shareholders can benefit from Interactive Data�s Fair Value
Information Service, which funds can use to help them determine
end-of-day valuations for international equity index futures and
international equity options when market quotations are not readily
available at the time of net asset value (NAV) calculation. "As
mutual funds broaden their strategies to include more complex
investments such as international futures and options, there is a
greater need for a systematic approach to producing valuations that
reflect global market movements,� said Shant Harootunian, managing
director of Evaluated Services, Interactive Data Pricing and
Reference Data. �Recent research performed by Interactive Data
revealed that approximately 93% of mutual funds employ a systematic
fair value methodology for international equities. Interactive
Data�s introduction of such a service for international equity
derivatives is a natural progression for the industry. Today�s
announcement demonstrates our commitment to providing clients with
innovative offerings that help them to address continually changing
market requirements.� Currently, more than 160 fund complexes
subscribe to the Fair Value Information Service. In 2007,
Interactive Data was awarded a patent by the U.S. Patent and
Trademark Office for Fair-Value Pricing of a Financial Asset.
Additional information about the Fair Value Information Service is
available at www.interactivedata-prd.com. Interactive Data also
offers a Fair Value Information Service for international equities
that provides information that can be used to estimate the value of
international equity securities after the close of trading in local
markets. It utilizes a variety of observable market inputs and a
multifactor model to produce evaluations. 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 real-time market data,
time-sensitive pricing, evaluations and reference data for millions
of 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 2,300 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, is
Interactive Data Corporation�s majority stockholder. Interactive
Data Corporation is celebrating its 40th anniversary in 2008.
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 6 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 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. Interactive DataSM and the Interactive
Data logo are service marks of Interactive Data Corporation. (1)
According to Interactive Data�s research of quarterly filings with
the SEC on form N-Q, the number of international equity index
futures and options held by funds has steadily increased since
2005.
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