compass direct

Ladies and gentlemen,

The financial markets crisis has created new challenges with respect to client advisory services. In the regulatory arena, International financial regulatory authorities, such as the German Federal Financial Supervisory Authority (BAFin, Bundesanstalt für Finanzdienstleistungsaufsicht) or the British FSA (Financial Services Authority) and inter-trade organizations such as the British Bankers’ Association or the American Bankers Association, work at creating a better environment with respect to transparency and comprehensibility in investment advisory services.

For example, the Federal Association of German Banks (BdB, Bundesverband deutscher Banken) per the EU Commission developed a standardized information sheet to explain in detail the structure of investment products and the risks involved. Such an information leaflet which lays out a comparison of financial products in layman’s terms, may be published soon in other areas, including more complex product areas such as fund and derivative products.
We are happy to support you in meeting these documentation requirements in the context of your advisory services and thereby contributing to increased client satisfaction.

The new edition of our client newsletter compassDirect provides information about the latest products and other initiatives from Interactive Data. Have fun reading!

Sincerely,
Carsten Dirks
Managing Director
Interactive Data Managed Solutions AG

In this Issue

Expanded Event Calendar for PrimeTerminal Professional

Tick History Service provides Historical Price and Trade Data

Market Data Offering now includes Chi-X Europe

New Services for the Turkish Market developed with Matriks

Interactive Data acquires Trading Infrastructure Provider

New Real-Time Services and Trading Solutions Group

Expansión and Interactive Data hosted Funds Awards in Madrid

Solutions: Expanded Event Calendar for PrimeTerminal Professional

PrimeTerminal Professional now offers access to an expanded portfolio of event information. With the addition of “Dow Jones Calendar Live,” a data service from Dow Jones, the terminal now offers a calendar-based view of macroeconomic events along with key figures.

These include publication dates for economic indicators and global economic and political events such as Central Bank meetings, economic forecasts and government bond auctions.

Dow Jones Calendar Live offers a global coverage of events. As a special service, real-time updates can be provided for roughly 16 indicators, such as the consumer price index (CPI), the gross domestic product (GDP) or the balance of payments in 15 countries, including G-7 nations. Previous, expected and actual (post-event) values are also displayed for each indicator alongside the date of publication. References to the publishing organization (such as German Federal Bureau of Statistics), as well as relevant news items, are also provided for each event.

This is designed to aid users in optimizing planning before an event, keeping abreast of event outcomes and their consequences for market developments, and making informed investment decisions on behalf of their clients.

The new service is available as an option to the existing PrimeTerminal Event Calendar. The information is displayed along with the optional Company Event calendar.

With Dow Jones
Calendar Live financial experts and wealth managers can gain access to a summary of events of potential relevance in making their investment recommendations to clients.

	Products: Tick History Service provides Historical Price and Trade Data
		Banks and financial services providers can now access global historical financial market data for internal bank analyses and risk management via Interactive Data PrimeContent.
	The new Tick History Service is designed to deliver intra-day stock market quotations, including bid and ask information, for traded securities from a wide range of venues. The quotes have been recorded tick-by-tick by Interactive Data since 1 November 2007 and clients are able to filter the data by trading venue or security. The service is designed for use by compliance and risk managers at banks and regulatory authorities for backtesting investment strategies, best execution, and market compliance testing. The Tick History Service covers a large number of major markets in Europe, the US and Asia. In addition, multilateral trade facilities (MTFs) such as Turquoise and Chi-X, are also available. The tick data can be delivered as pricing data only or bundled with intra-day and end-of-day bid and ask quotes.

	Content: Market data offering now includes Chi-X Europe
	Market Data Gateway, Interactive Data’s market data platform, now offers access to real-time prices from Chi-X Europe. In addition to connectivity to Turquoise, available since the end of 2008, customers can now take advantage of the growing liquidity, lower transaction costs and rapid transaction execution of another multilateral trading facility (MTF). Level 2 prices for the roughly 1,100 securities traded on Chi-X can be supplied and displayed in real-time. For customers such as media portals, whose main focus is not stock exchange data, connectivity to an MTF offers an interesting alternative to the numerous and comparatively expensive exchange feeds. A majority of MTFs were launched in 2007 by large banking houses and investment banks such as BNP Paribas, Citigroup, Credit Suisse, Fortis, Goldman Sachs, Merrill Lynch, Morgan Stanley, Société Générale and UBS. With attractive prices, flexible technology and innovative clearing solutions, the newcomers managed to draw away liquidity from established exchanges and shake up their market share. Meanwhile, trading volumes on Chi-X regularly exceed those on NYSE Euronext and the London stock exchange, and in January 2010, Chi-X climbed to the number two position in the list of trading centers in Europe. Chi-X’s largest European competitors, BATS and the MiFID-compliant trade reporting platform BOAT, are available via Interactive Data PlusFeed.

	Corporation: New Services for the Turkish Market developed with Matriks
		Interactive Data and Matriks Bilgi Dağıtım Hizmetleri A.Ş., a major provider of market data and customised financial information systems in Turkey, have entered an agreement to develop and distribute financial information solutions for the Turkish market.
	Matriks will initially redistribute PrimeTerminal, Interactive Data‘s customisable financial desktop solution for wealth managers, in Turkey and neighbouring countries. Matriks plans to develop customised solutions for Turkish financial institutions on the Market Data Gateway, Interactive Data’s fast and flexible market data platform. A jointly developed customised version of PrimeTerminal for the Turkish market is also planned. Interactive Data already provides Matriks with international financial market data via its low-latency consolidated, global market datafeed, PlusFeed. Berkant Oral, general manager at Matriks Data, says, "This agreement with Interactive Data is an important step for us. By applying our combined experience and abilities, we will be able to offer innovative financial information solutions that are customised to help meet our clients’ specific needs." Matriks Website

	Corporation: Interactive Data acquires Trading Infrastructure Provider
	IInteractive Data Corporation has recently closed its acquisition of 7ticks, LLC, an innovative provider of electronic trading networks and managed services. As a leading Managed IT Services Provider for the financial trading industry, Interactive Data 7ticks delivers networking infrastructure design, procurement, installation and ongoing monitoring services. Firms can leverage the Interactive Data 7ticks high performance trading network for access to consolidated and ultra-low latency direct exchange data at key co-location/proximity hosting centers. They can co-locate their application at one of the hosting centers on the network to minimize both transport latency and cost or access the data from the data center closest to their premise to reduce data transport cost. Firms can access 450 global data sources via Interactive Data’s PlusFeed consolidated feed at each hosting center, and also access ultra-low latency direct exchange connections. In addition, they can execute orders through established connectivity to major trading venues. Interactive Data 7ticks has hosting facilities in Chicago, the New York area, London and Frankfurt. 7ticks Website

	Corporation: New Real-Time Market Data and Trading Solutions Group
	IInteractive Data Corporation has formed the Real-Time Market Data and Trading Solutions Group, which combines the resources of its Managed Solutions, eSignal and Real-Time Services businesses into a single organization. The new unit is led by Jeffrey Banker, who previously had been responsible for the Interactive Data’s strategic market development. Ray D’Arcy, Interactive Data’s president and chief executive officer stated, “During the past year, we have seen that Interactive Data’s real-time value proposition is more compelling when we approach customers with a suite of integrated, real-time offerings that can include global real-time market data delivered via low-latency datafeed services, a wealth management workstation, or a customized, hosted web solution. At the same time, attractive opportunities in the wealth management and electronic trading sectors are emerging as clients seek new alternatives in the marketplace.” The new group positions Interactive Data to mobilize its resources more effectively and efficiently to address the real-time needs of institutions worldwide. “By aligning previously separate engineering, product development and infrastructure resources, we can build on the considerable progress we’ve made to more effectively target new growth opportunities and differentiate Interactive Data in the marketplace,” said Banker.

	Event: Expansión and Interactive Data hosted Funds Awards in Madrid
		For the third year in a row, Interactive Data and UNEDISA, a leading Spanish financial information company and publisher of business journal Expansión jointly hosted the “Funds Awards” in Madrid on March 17, 2010. The awards recognized the most successful Spanish and international fund companies over the past year and represent one of the most prestigious events for the financial services industry in Spain. More than 300 high-profile guests from the Spanish funds and banking industry attended the event at the Real Casa de Correos.
	The overall mood was positive in view of the noticeable recovery of Spain's finance industry. 94 percent of domestic investment funds succeeded in achieving very good results despite the difficult economic conditions. Awards were given in the following categories: the best fund across seven sectors, the best national and international investment management companies (based on the number of funds assessed by three different fund sizes), as well as the best equity, bond and mixed funds. Pension savings funds and investment management companies were also recognized. Spanish fund company Bestinver was the winner of the night with eight awards, followed by Carmignac Gestion from France with five and the British Threadneedle with three prizes. “For over 20 years, Expansion has been honoring the most successful Spanish fund companies each spring, and we are happy to host the awards jointly with Interactive Data once again this year,” said Jesús Martínez de Rioja Vázquez, publisher of Expansión. Expansión Website