youDevise believes that TIM Insight can be a more useful short-to-mid term indicator for whether to buy long or sell short than traditional consensus earnings estimates.

TIM Insight is based on long/short trading ideas on more than 13,000 large, mid and small cap equities in North America, Europe and Asia Pacific. The ideas are developed by more than 4,300 equity sales people, sales traders and research analysts at 300 institutional brokerage firms, submitted to the TIM online service, and distributed in real time to more than 100 hedge and quant funds and long-only investment managers. The average life of trade ideas within TIM is 23 days.

"TIM Insight is designed to help lock in alpha on a short-to-mid term basis versus consensus earnings estimates, which are best used to help research a company for long term investments," said Colin Berthoud, founding partner of youDevise, the developer of the TIM.

"Using TIM Insight, money managers know - at any moment - how strongly brokers believe a stock will rise or fall in the short term. This is as opposed to estimating services that can really only tell you a maximum of four times a year whether a company is a buy or sell, based on how well earnings performed versus expectations."

TIM Insight examines current open and unique ideas; calculates the ratio of longs versus shorts on a stock, its sector and region; and displays the results graphically to show:

• Trade Recommendation: A strong buy, buy, neutral, sell or strong sell signal.
• Trending: The long or short trend of the most recent ideas.
• Recent Volume: The relative quantity of the most recent ideas.
• Broker Depth: The relative number of brokerage firms recommending buys versus sells.

TIM Insight also calculates daily lists of top stocks, sectors and regions that have experienced the most significant changes in recommendation over the last 24 hours.

"Buy side users can de users can drill down to see underlying ideas from brokers only where they have a commercial relationship," said Mr. Berthoud. "Sell side users, who can see only those ideas generated by their firm, can use TIM Insight to check whether their ideas will be one of many on a stock - or stand out as one of a few."

TIM Insight was developed after quant funds found that a statistically significant amount of ideas sent to them via the TIM proved to be a better indicator of stock direction than valuation based on consensus earnings estimates. A subsequent study by youDevise determined that more than 65% of TIM contributors outperformed relevant indexes in 2008.

TIM Insight, whose full set of features will be rolled out in April and May, is the first value added service that youDevise has developed based on TIM's extensive database and role as a key point-to-point communication platform between the sell and buy sides.

As of the end of February 2009, total open and closed ideas in the TIM hit 505,892, up 231% year over year. youDevise started its "ideabase" in late 2005, when it first launched the TIM. Over the last 12 months, it has been growing by an average of more than 28,000 ideas per month, for an annualized rate of more than 340,000 a year.

Trade ideas are short to medium term, client-specific, recommendations, used to enhance buy side performance and generate sell side commissions. Trade ideas outline what stock to buy long or sell short, how much money to invest, how to build the position, and the rationale. Unlike traditional sell-side research, which makes non-client-specific recommendations based on 12-month price targets, trade ideas are based on how the market is likely to value a stock, taking all information into account.

Brokers "open" ideas when they are first sent to clients. The TIM immediately time and price stamps the ideas, so clients can track how well they are doing real time. When ideas have played out, brokers "close" them, locking in their performance record. Unlike standard equities research, trade ideas are time specific, with TIM calculating the performance of each trade idea and author to the minute.

The TIM is offered free to any buy side firm that has an agreement with at least one sell side firm to pay for ideas received via the TIM. TIM Insight costs $1,000 per month per buy side user. Brokerage firm fees for TIM Insight will be discounted based on their level of idea contribution.