Interactive Data launches Essential Equities service; broadens hosted content

Source: Interactive Data

Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related solutions, today announced the launch of the Essential Equities Service, a service that delivers a select set of NYSE and Nasdaq real-time market data to clients.

The Essential Equities Service is designed for use by financial institutions that do not require every tick of data, including firms that utilize the data for portfolio pricing, websites and workstations. It is designed to reduce NYSE volumes by up to 85 percent and reduce Nasdaq volumes by up to 50 percent.

The Essential Equities Service mitigates the large amount of NYSE and Nasdaq data traffic from quote updates by sending out only one update each second for quotes. By mitigating the large amount of traffic, this service can help clients minimize bandwidth requirements and associated real-time market data costs, as well as reduce the hardware footprint required to process the data. The service can also help extend the life of client applications which might otherwise require upgrades to handle the increased data volumes.

The Essential Equities Service mitigates NYSE and Nasdaq volumes through a variety of features. The one-second quote mitigation function can eliminate a significant amount of the updates that NYSE and Nasdaq generate. The service is also designed to deliver data on the composite instrument only, providing the Best Bid Offer (BBO) for each instrument while eliminating updates from regional exchanges that are off the BBO. Also, the exchange administration and control messages are removed to reduce message size and traffic.

"As annual growth rates in market data volumes continue to escalate, our clients are finding that dealing with these large volumes can be expensive and time consuming," said Jay Kilberg, managing director of Feed Solutions, for Interactive Data. "Our new Essential Equities Service is one of a series of Interactive Data's offerings that can help our clients to better manage growing market data volumes as well as bypass data that is not critical to their investment processes."

The Essential Equities Service is offered by Interactive Data Real-Time Services.

Separately, Interactive Data Corata Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related solutions, today announced enhancements that expand the wide range of data and services that financial institutions can access seamlessly over the Internet. These enhancements, which support Software as a Service (SaaS) Cloud-based computing, include a comprehensive suite of real-time streaming modules as well as robust, pre-defined software components designed to be integrated into nearly any IT infrastructure.

By developing their own applications or accessing web-based applications hosted on Interactive Data's world-class technical infrastructure, clients have enjoyed a multitude of benefits for many years from Interactive Data's Cloud. In addition to customized workflows and simplified design integration, Interactive Data's Cloud can help financial institutions reduce costs by outsourcing market data content collection and delivery, along with managing the technology infrastructure and staff needed to run, manage and maintain related applications. Interactive Data estimates that the delivery of content and infrastructure management through its Cloud can reduce the price point by up to 65 percent compared to an institution's legacy market data workstations.

Clients that utilize Interactive Data's Cloud can access: real-time market data for millions of global financial instruments; news and research; sophisticated charting, alerts, tick history, analytical data and portfolio applications; and standard web-based interfaces (APIs) accessible with widely used programming languages such as Java, JavaScript, PHP, and .NET. Data is delivered from the Cloud in standard output formats, such as XML Web Services and JSON, which can help clients to integrate and display market data for any number of clients on devices with Internet connections and web browsers, including mobile devices.

Interactive Data's flexible data conflation and hibernation settings permit clients to access only the data they require, which can help to reduce bandwidth costs while improving network utilization. Interactive Data's Cloud also features centrally managed upgrades and maintenance for data applications, enabling clients to gain timely access to enhanced services.

"Technology innovation, together with a focus on cost containment, has prompted financial institutions to closely examine their processes, and they have discovered the appeal of outsourcing real-time market data and related applications to a trusted provider of Cloud solutions," said Jeff Banker, executive vice president, Real-Time Market Data and Trading Solutions for Interactive Data. "Interactive Data's innovative technology model consists of hosted solutions that can greatly reduce the need for the technology infrastructure and staff previously needed to support a firm's market data applications. We continue to see attractive opportunities to help our global customer base benefit from our Cloud-based approach of providing access to high-quality financial content and innovative, high-value web-based applications."

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