FT Interactive Data has teamed up with data integration systems supplier, Asset Control International, to deliver a new range of market data software solutions, beginning with corporate actions information services.
Under the agreement, the two firms will collaborate, on a non-exclusive basis, in mapping FT Interactive Data's content on 3.5 million financial instruments to Asset Control's software, for data aggregation, validation and cleansing.
Initial integration work will focus on FT Interactive Data's corporate actions feeds and is designed to address industry demand for a plug-and-play approach to corporate actions that provides consistency, data quality and automated distribution and alerts.
John Peck, European sales & marketing director for FT Interactive Data, says: "The partnership will provide not just an interface between data and software, but an interrogative and flexible database solution with sophisticated modeling engines and cleansing techniques - extremely important for the success of STP."
The joint development project is currently in the final stages of mapping, and will be first implemented in a financial institution that is a shared customer of Asset Control and FT Interactive Data. General availability is planned for the second quarter of 2002.