Bedford, MA - FT Interactive Data, the major operating subsidiary of Interactive Data Corporation (NYSE: IDC) and a leading supplier of financial information to global markets, announced today it now has 108 mutual fund and mutual fund processing clients subscribing to its groundbreaking Fair Value Information Service.
Subscriptions to FT Interactive Data's Fair Value Information Service increased more than 200% in 2004. Thirty-four mutual fund companies subscribed to the Service as of January 31, 2004 as compared to the current number of 108 clients today.
A leading provider of global financial information, FT Interactive Data introduced the Service to the marketplace in August 2002 after more than two years of extensive research and development. FT Interactive Data's Fair Value Information Service is designed to provide a tool that can assist U.S. mutual fund companies in meeting their legal fair value obligations, while also reassuring investors their mutual fund company is doing everything possible to safeguard shareholder interests.
"We are extremely pleased to be able to provide this essential service to our valued clients," said Raymond D'Arcy, President, Data Delivery Products for FT Interactive Data. "Our Fair Value Information Service reflects more than 35 years of leadership providing mission-critical data to financial institutions worldwide."
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About FT Interactive Data
FT Interactive Data is a leading provider of financial information and analytical software to global markets. FT Interactive Data supplies global securities pricing, evaluations, dividend, corporate action and descriptive information designed to support mutual funds' pricing activities, securities operations, research, and portfolio management. The company collects, edits, maintains, and delivers data on more than 3.5 million securities, including daily evaluations for approximately 2.5 million fixed income and international equity issues. FT Interactive Data specializes in "hard-to-value" instruments and "hard-to-get" information from emerging markets.
Through CMS BondEdge, an affiliate of FT Interactive Data, the company is a recognized leader and independent source of fixed income portfolio analytics, risk management tools and quantitative research.
FT Interactive Data is the major operating subsidiary of Interactive Data Corporation (NYSE: IDC), a leading global provider of financial and business information to institutional and individual investors. Headquartered in Bedford, Massachusetts, Interactive Data Corporation has approximately 1,800 employees in offices throughout the world. To learn more, visit us at www.FTInteractiveData.com .
Interactive Data Corporation is approximately 60 percent owned by Pearson plc and included within its Financial Times Group. Other Financial Times Group companies include the Financial Times newspaper, FT.com and Financial Times Business. Pearson plc is an international media company with market leading businesses in education, business information and consumer publishing.