BEDFORD, MA - Interactive Data Corporation (Nasdaq NM: IDCO) today announced that it has applied for listing on the New York Stock Exchange (NYSE) and expects to begin trading on December 10, 2002 under the ticker symbol "IDC." To mark the company's first day of trading, representatives of Interactive Data will participate in The Opening Bell ceremony at the NYSE.
Stuart Clark, president and chief executive officer, commented, "We are pleased to move our listing to the world's largest and most prestigious stock exchange. The nature of our business, with its focus on providing mission-critical data and analytics to many of the world's leading financial institutions, is well suited to this marketplace. We very much hope that through this move we will improve our visibility in the investment community and provide our stockholders with enhanced liquidity through access to a broader investor base."
"The Exchange is privileged to welcome Interactive Data Corporation to its family of listed companies," said Chairman and CEO Dick Grasso. "Interactive Data Corporation is a proven innovator and leader in its field, and we look forward to an outstanding partnership with the company and its shareholders."
Forward-looking and Cautionary Statements
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 involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those contemplated in the forward-looking statements. Such factors include, but are not limited to: (i) the presence of competitors with greater financial resources than the Company's and their strategic response to the Company's services and products; (ii) changes in technology, which could affect the competitiveness of the Company's products and services; (iii) maintaining relationships with key suppliers and providers of market data; (iv) a decline in activity levels in the securities markets, which could lower demand for the Company's products and services; (v) consolidation offinancial services, both within an industry and across industries, which could lower demand for the Company's products and services (vi) prolonged outage at one of the Company's data centers; (vii) the acceptance of the Internet as a reliable real-time distribution platform by institutional customers; (viii) the ability of the Company to broaden its subscriber base by adding more individual investors outside of the Company's traditional "active-trader" market; (ix) the potential obsolescence of the Company's services due to the introduction of new technologies; and (x) other trends in competitive or economic conditions affecting the Company's financial condition or results of operations not presently contemplated. The Company undertakes no obligation to update these forward-looking statements.
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 approximately 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, CMS BondEdge, and eSignal, Interactive Data Corporation has approximately 1,600 employees in 22 offices in North America, Europe, Asia, and Australia. Pearson plc (NYSE: PSO), an international media company, whose businesses include the Financial Times Group, Pearson Education, and the Penguin Group, owns approximately 60 percent of Interactive Data Corporation.
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