| INTERACTIVE DATA DELIVERS REAL-TIME DATA TO FINANCIAL MECHANICS
Broad Range of Real-Time Data to Fuel Firm’s Proprietary Trading Engine
New York: 6 November 2007
Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics, and related services, today announced that its Real-Time Services business will deliver a broad range of real-time data to power Financial Mechanics LLC’s proprietary trading applications.
Financial Mechanics, an emerging hedge fund manager located near San Francisco, utilizes complex mathematical algorithms designed to identify securities trading opportunities. Its computer-based trading system is derived from the life sciences and is capable of continuously analyzing and forecasting short-term price movements for a large population of financial products, including equities, currencies and commodities. The company will launch its first fund this month.
Interactive Data’s PlusFeedSM, a low latency consolidated real-time digital datafeed, will provide data for U.S. domestic equities, futures and commodities markets to support Financial Mechanics’ automated trading strategies. PlusFeed will also deliver real-time spot and forward FX rates for currencies provided through Interactive Data’s GTIS Service. GTIS is a premium service with global over-the-counter prices contributed by leading market players in the foreign exchange, precious metals, energy, money and fixed income markets.
Financial Mechanics has also selected Interactive Data’s historical intra-day tick and end-of-day data for back testing its trading strategies.
"PlusFeed’s speed of data delivery and broad range of financial content make it a compelling choice for our business, and the service will play a critical role in the implementation of our proprietary trading models,” said Keith Cich, president of Financial Mechanics. “In addition, Interactive Data’s ability to supplement its real-time content with extensive complementary information, including historical intra-day tick and end-of-day data, was another key factor as it can help enable us to thoroughly back test our trading strategies.”
"We are very pleased to be working with Financial Mechanics to help them execute on their trading strategies and business plan,” said Mark Hepsworth, president of Interactive Data Real-Time Services. “Our investments to enhance PlusFeed and our data distribution network in recent years have helped make Interactive Data a premier option for companies seeking to use global, low latency data to power their financial applications."
PlusFeed is designed to deliver high-quality, low latency data from more than 450 sources and exchanges worldwide, covering in excess of 3.4 million securities. In addition to real-time quote and trade data for equities, derivatives, fixed income, foreign exchange, commodities and funds, PlusFeed delivers a wide range of other information including reference data, fundamental data, historical data and financial news. PlusFeed is designed to power mission critical electronic market data applications, including algorithmic trading engines, where speed is crucial.
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, is Interactive Data Corporation's majority stockholder.
Interactive Data Real-Time Services is a leading provider of real-time global market data to financial institutions, redistributors and online financial portals worldwide. Offerings from Interactive Data Real-Time Services include PlusFeed, a consolidated, low latency datafeed. Also managed as part of this business is Interactive Data Managed Solutions, a leading provider and operator of customized financial market information systems.
For more information about Interactive Data Corporation and its businesses, please visit www.interactivedata.com.
For further information about Interactive Data please contact:
INTERACTIVE DATA:
Investors
Andrew Kramer
Tel: +1 781-687-8306
Email: andrew.kramer@interactivedata.com
Media
Sue Mitchell (European media)
Tel: +44 (0)20 7825 8076
Email: sue.mitchell@interactivedata.com
John Coffey (US Media)
Tel: +1 781-687-8148
Email: john.coffey@interactivedata.com
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