Tullet Financial Information has hit back at the sudden decision by Moneyline Telerate to pull its SwapMarker financial information service and announced a new distribution deal with Bloomberg.
Moneyline Telerate's move to pull the plug on the Tullett feed follows the recent dissemination of a new North American version of the SwapMarker service - incorporating US treasury data from Cantor Fitzgerald - over rival vendor Reuters. Tullett says it struck the deal with Reuters because of uncertainty over Moneyline Telerate's future viability during the Bridge bankruptcy proceedings.
David Mukerji, director and global head of sales for Tullett Financial Information states: “We launched SwapMarker on Reuters due to the unprecedented demand from customers and the take-up has been excellent."
He says Moneyline only informed him of its intent to discontinue the service last week and refused to give a precise date.
Describing the vendor's actions as "unprincipled", Mukerji adds: “We have since learned that customers have received letters from Moneyline informing them of their decision to implement this removal on Friday September 20th and we have started to receive calls from many of them asking for access to our information over alternative distribution channels."
He says the company has signed a new distribution deal with Bloomberg, and is in negotiations with Thomson’s ILX and CQG.