Moneyline Telerate has acquired London database technology specialist Market Information Services (MIS) for an undisclosed sum, in a move which underlines the growing importance of quality reference data to the securities industry.
MIS products are built using IBM/IDS ORDMS technology, enabling financial firms to capture, normalise and store/retrieve any form of pricing data with one technology while integrating internal proprietary data with that from information vendors such as Moneyline Telerate, Bloomberg, Reuters, and Thomson.
Under the deal, the MIS team, led by Ian Hillier-Brook, managing director and MIS founder, will work with Moneyline Telerate to integrate the company's global markets content into MIS' real-time, tick data, snapshot data and other loaders and cleansers. MIS technology also will form the basis of advanced data warehouse products geared to high-performance environments, such as corporate risk management. MIS clients include F & C Management and Tullett and Tokyo Liberty.
Alsun Keogh, vice-president of business development for Moneyline Telerate, says: "By combining Moneyline Telerate's global market coverage and MIS's real-time reference pricing technology, financial services customers can now view, analyse and execute complex transactions such as index arbitrage and portfolio trading in real-time across different data sources."
At the same time, she says, the data is cleaned and stored for future use, providing a foundation for straight-through processing and other high-performance applications that will form the basis of clean data repositories for the industry.
Both Reuters and CapCo, through their Synetix joint venture, and Netherlands-based data cleansing outfit Asset Control have formulated proposals for the development of industry-wide reference data bureau services.