Under the arrangement, Nyse Euronext enables Virtua Research to offer independent research coverage for an initial group of Nyse- and Nyse Amex-listed companies through interactive financial modeling tools that are accessible to all investors.

"The Virtua Research service helps enhance the information and transparency of our listed issuers and helps investors make more informed decisions," said Joe Mecane, EVP and Chief Administrative Officer, U.S. Markets, NYSE Euronext. "Providing a transparency tool that brings issuers and investors closer together is an important goal of NYSE Euronext and we look forward to a collaborative partnership with Virtua Research."

"We are excited to collaborate with the NYSE in providing a novel research solution for these listed companies. We appreciate the vision of the exchange in recognizing the value of independent research. This is an opportune time to introduce innovative and cost effective research that benefits both companies and investors," said Andy Detwiler, Co-Founder of Virtua Research.

Virtua Research is based on the premise of utilizing the Internet to make the research and financial analysis more readily available to all investors. Relying on public information such as 8-K, 10-K and 10-Q filings as well as transcripts of quarterly earnings call, the 200 research analysts at Virtua Research provide a financial model with base-line data for a selected company's revenues, earnings, earnings per share and a range of analytical tools enabling peer comparisons. Unlike major investment banks and Research Analysts reports, Virtua Research tools do not offer "Buy", "Sell" or "Hold" recommendations, but leave it up to the investor's own data inputs to project numerical outcomes for a company's stock price.

Online research reports on the initial group of companies can be accessed from the websites of NYSE Euronext and Virtua Research. Additional distribution agreements have been signed with Capital IQ, and TheMarkets.com with other platforms to be announced.