Relationship Would Integrate Interactive Data Corporation's Data Sets and Applications into Moneyline Telerate Workstations and Interactive Feed Products
New York, NY and Bedford, MA - Interactive Data Corporation (NYSE:IDC) and Moneyline Telerate today announced their intent to develop a strategic relationship that will allow both companies to better serve their front, middle and back office clients. As part of the strategic relationship, Moneyline Telerate would integrate numerous Interactive Data Corporation data sets and applications into its workstation and interactive feed products to create a support tool for pre-trade, trade and post trade activities for professional users.
The strategic alliance will allow both companies to better serve global financial institutions by providing a comprehensive range of products designed to support the workflow of the investment community. Interactive Data Corporation content and services to be incorporated into Moneyline Telerate workstations and interactive feed products include ComStock's global exchange-traded data, FT Interactive Data's global evaluation data, security master services, and terms and conditions data, as well as the possible inclusion of CMS BondEdge analytics and certain eSignal capabilities.
"This unique relationship will combine Interactive Data Corporation's strength in global data quality, technology and reliability with Moneyline's front office capability and reach," said Stuart Clark, Interactive Data Corporation's President and Chief Executive Officer. "Both Interactive Data Corporation and Moneyline Telerate have an excellent track record in creating best of breed product and service offerings, and this alliance will help both companies continue on that path."
"We believe this relationship will enhance both Interactive Data Corporation's and Moneyline Telerate's positions as global, multi-asset class players in the financial information industry," said Christopher F. Feeney, Chief Executive Officer of Moneyline Telerate. "Feedback we receive from our clients indicates a strong desire to break traditional vendor dependencies and form more cooperative enterprise-wide relationships with suppliers they can trust. We believe that this combination has the potential to deliver tremendous value to our clients," added Feeney.
About Interactive Data Corporation
Interactive Data Corporation is a leading global provider of securities pricing, financial information, and analytic tools to institutional and individual investors. The company supplies time-sensitive pricing (including evaluated pricing), dividend, corporate action, and descriptive information for more than 3.5 million securities traded around the world, including hard-to-value instruments. The company links to most of the world's best-known financial service and software companies for trading, analysis, portfolio management, and valuation.
Interactive Data Corporation is headquartered in Bedford, Massachusetts. Through its branded businesses, FT Interactive Data, ComStock, CMS BondEdge, and eSignal, Interactive Data Corporation has approximately 1,800 employees in offices located throughout North America, Europe, Asia, and Australia. Pearson plc (NYSE: PSO - News), an international media company, whose businesses include the Financial Times Group, Pearson Education, and the Penguin Group, owns approximately 60 percent of the outstanding common stock of Interactive Data Corporation.
About Moneyline Telerate
Moneyline Telerate is a leading global provider of integrated real-time information and transaction services to the capital markets. With the world's premier benchmark fixed-income content, IP based distribution platform and transaction systems, Moneyline Telerate provides financial services firms with cost-effective, flexible methods for using content to drive investment decisions and order flow across new and existing electronic channels. The firm, established in 1998, is headquartered in New York City. One Equity Partners, the New York-based private equity arm of Bank One Corporation is the majority shareholder; other shareholders include Japan's QUICK Corp. For further information about Moneyline Telerate, please visit www.moneyline.com.
Interactive Data Corporation Forward-looking Statements
With respect to Interactive Data, this press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and is subject to the safe-harbor created by such Act. These statements include the statements that Interactive Data and Moneyline Telerate intend to form a strategic alliance, that the proposed alliance between the two companies will enable both companies to better serve global financial institutions, deliver tremendous value to clients, and enhance each company's respective position as a global, multi-asset class player. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those contemplated by the forward-looking statements, including the execution of a definitive, binding agreement between the parties setting forth the terms and conditions of the alliance and the successful joint development of an integrated solution that meets the targeted market demand and is accepted by customers. Interactive Data undertakes no obligation to update these forward-looking statements. For further information on additional risk factors that may affect Interactive Data's business or the proposed strategic alliance, please refer to Interactive Data's most recent reports filed with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ending December 31, 2002.
for Moneyline Telerate
Interactive Data Corporation