ComStock, a division of Interactive Data Corporation (NYSE: IDC) and a leading provider of real-time global market data, and IS.Teledata AG, Europe's largest provider of internet-based financial information systems, have signed a 10 year contract, expanding the long-standing and highly successful strategic alliance that has been in place since 1996.
"The success of our relationship to date has demonstrated the tremendous strength of our combined offerings and we are building on that success with this agreement," said Stephan Wolf, spokesman of the board of IS.Teledata. "The combination of IS.Teledata's leading edge internet technology and applications, with ComStock's high quality global market data, allows us to bring truly innovative solutions to the financial communities on both sides of the Atlantic."
ComStock is the primary provider of real-time, delayed and historical market data to IS.Teledata, feeding the company's computer centres in Cologne and Frankfurt. The global data, which includes all asset classes - equity, fixed income, foreign exchange, commodities and derivatives - and covers in excess of 1.8 million instruments, is used to power the financial information systems of the IS.Teledata client base of over 150 banks, brokers, exchanges, portals, investment companies and media houses throughout Europe.
In addition to providing market data, ComStock distributes IS.Teledata products under licence over its global sales network, expanding its range of distribution and application capabilities based on forward-looking internet technologies.
"Our agreement with IS.Teledata AG allows us to leverage our truly complementary capabilities," says Daniel J. Connell, president and CEO of ComStock, "and the net result of the collaboration is that we can provide highly innovative and customised market information solutions to the world's most demanding financial institutions. The initial response to these new solutions in the US and other parts of the world has been very encouraging."