QuoteMedia, Inc. (OTCBB: QMCI), a leading provider of market data services and financial applications, announced today a major agreement with Penson Worldwide, Inc.'s technology and brokerage affiliates, Nexa Technologies, Inc. (NEXA) and SAMCO Financial Services, Inc. (SFS).
With this new partnership, QuoteMedia becomes its own data provider, with control over the depth, speed, quality and security of its market data. Not only will QuoteMedia's existing products be powered by highly accurate and low latency market data, but the company is now poised to launch into a new market of providing high quality data in streaming feeds.
"Acquiring the worldwide redistribution rights for this data is an exciting development for QuoteMedia," says Dave Shworan, CEO of QuoteMedia Ltd. "Teaming up with NEXA takes us to the highest level of data provisioning. The depth, speed and quality of our new direct exchange data feeds are a tremendous leap forward for our product line and our clients."
The shared ticker plant facilities, located in New York and Texas, have multiple direct connections to the world's exchanges for equities and derivatives, with most sources of latency removed to deliver extremely fast data feeds. "We are looking forward to highlighting our ticker plant technology with QuoteMedia's streaming applications," says Senior Vice President of Nexa Technologies, Mark Munoz.
Another major component of the agreement has QuoteMedia providing an extensive array of its content products for incorporation into NEXA's advanced trading platforms. Products to be licensed by NEXA for its trading applications include Quotestream, QuoteMedia's streaming real time portfolio management system, Quotes and Fundamentals, Interactive-Dynamic Technical Charting, Company and Market News, Stock Screeners, SEC Filings, Insider Reports, Market Indices, Option Chains, Corporate Research, Wireless Market Access and more.
"We are excited about our new relationship with QuoteMedia," says Eric Stoop, President of NEXA Technologies, Inc. "Augmenting Nexa's successful trading solutions with QuoteMedia's advanced offerings will provide even more powerful tools to our customers."
The third major component of the agreement is between QuoteMedia and SFS, a subsidiary of Penson and a full-service broker dealer specializing in high quality executions and personalized services. QuoteMedia will be establishing a new online trading division, offering trade execution to its clients. The trading system will be accessible throughout QuoteMedia services and applications. SFS will be handling certain order routing and trade execution services for this new system.
"Establishing this new online trading service for QuoteMedia is a highly significant event for our company," says Shworan. "It really is the final piece of the puzzle for QuoteMedia, allowing us to become a truly comprehensive financial services provider. We are now fully positioned to execute our further growth strategies."