HyperFeed Technologies, Inc. (Nasdaq: HYPR), a provider of ticker plant technology, software, managed services and decentralized ticker plants to the financial services industry, today announced the promotion of Paul Pluschkell as CEO of the Company. He also will continue as President.
Jim Porter, HyperFeed's former CEO and Chairman of the Board, continues as Chairman of the Board.
In assuming his new position, Mr. Pluschkell commented on the introduction of the HyperFeed/SAVVIS Data Delivery Utility announced earlier this week: "The results of this partnership have sweeping, long-term implications for the financial market industry," he said. "A key reason for joining HyperFeed," he continued, "was that I saw the opportunity to leverage its intellectual property in the MEPS model and its related H!BOX software as a distributed, decentralized utility service. The newly launched Data Delivery Utility product with SAVVIS represents a paradigm shift that fundamentally changes the way financial market data is processed, transmitted, and delivered to customers and content publishers. I appreciate the confidence the Board of Directors has shown in this plan and in me. All of us at HyperFeed are committed to maximizing our current technology leadership position to create significant shareholder value."
Data Delivery Utility allows all publishers of financial content to provision their service locally and be aggregated with other forms of content in a raw or normalized fashion for the first time at the customer premise. It is completely data-vendor agnostic and will collect information that the customer wants directly from such key data sources as exchanges, content providers and proprietary sources.
HyperFeed's MEPS services are a complete turnkey solution for the normalization, databasing, integration and transmission of high-performance real-time data sources. H!BOX is off-the-shelf software that runs on a server at a client's site for receiving and managing real-time data directly from any source.
"Think of the new offering with SAVVIS as a utility," he said, explaining further, "whereby you can 'plug into' market data access much as you plug your radio into an electrical outlet. The building is wired and electricity is flowing through the wires - you just need to tap into it. This partnership makes the financial information traveling across SAVVIS' multicast network analogous to electricity flowing over electrical wires, keeping data at the edge of the network at all times. And, much like electricity, Data Delivery Utility is built on a many-to-many model that allows the services to be economical and ubiquitous. There is now absolutely no reason for every consumer to own his own power plant."
Commenting on Pluschkell's appointment, Jim Porter, HyperFeed's Chairman of the Board, said, "With HyperFeed successfully re-focused on its core business in a rapidly changing industry, we are well positioned to bring the leading edge of opportunity to our customers. Paul's track record running companies, and his experience with networks and convergence make him the right person to lead the growth of the software and services licensing model already reinforced by such cornerstone customers as Moneyline Telerate, Chicago Board Options Exchange (CBOE) and Interactive Data, as well as the newly launched Data Delivery Utility initiative. The Board of Directors has great confidence in his ability to execute and advance the company's strategy, and to increase shareholder equity."
Mr. Pluschkell began his career at Reuters, held executive positions at Global Crossing, and founded and sold his own company (MXNet). He has been with HyperFeed since August of 2002.