About a-team Marketing Services
The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Interactive Data Leverages Xcitek Acquisition to Offer Intraday Corporate Actions Data

Subscribe to our newsletter

Interactive Data Corporation’s Pricing and Reference Data business has introduced in North America a new service for delivery of corporate actions information to clients throughout the day. The service leverages Interactive Data’s acquisition of Xcitek earlier this year (Reference Data Review, April 2007); intraday delivery of corporate actions data was already on the Xcitek product roadmap at the time of the deal.

Foreshadowing the launch of the intraday corporate actions service, Ray D’Arcy, president of sales and marketing at Interactive Data, told Reference Data Review at Swift’s Sibos conference in Boston last month that “the Xcitek market data business has already been integrated and we will be announcing some new developments soon”. “The Xcitek people have been integrated throughout the organisation, rather than being kept separate, to help us with our reference data strategy,” he said. “Xcitek was focused on the job function and workflow of corporate actions. We needed to focus on how to add value beyond the core content. Since the Xcitek people had been working on how to improve and add value to the process, we really wanted to get them involved with our strategy.”

The Interactive Data Xcitek Intra-Day Corporate Actions Service can deliver notification of newly announced and revised events to clients every two hours. The service covers more than 40 corporate actions event types, including mergers, tender offers, exchanges and rights offerings for US and Canadian listed/traded securities. Intraday files are delivered to clients in Interactive Data Xcitek’s standard formats beginning at around 10am ET each day. The compilation of the five intraday files reflects all of the data collected for the standard end-of-day feed available at around 7pm ET.

Interactive Data is hopeful the new service will attract users from outside its core back office market, including the middle and front offices. As explored in the Q4 2007 issue of Reference Data Review’s sister publication A-Team IQ (Unlocking the first link in the chain, page 56), business drivers like the increase in algorithmic trading are conspiring to generate greater demand for up to the minute information on corporate actions in the front office; missed events pose a real risk for programmatic trading models consuming real-time data.

Marty Williams, vice president of institutional data delivery products, Interactive Data Pricing and Reference Data, says: “Our new Intra-Day Corporate Actions Service is designed to collect a broad range of corporate actions data and seamlessly deliver it to clients throughout the day in a streamlined format that integrates into their financial systems and applications. This helps clients more efficiently review and process data that can be used as an input to make informed investment decisions.”

The extension of the intraday corporate actions service to Europe and the addition of further event types are on the data vendor’s radar for the future, it says.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Adding value and improving efficiencies in sanctions screening

Sanctions have been headline news this year. They are growing in number, sanctions lists are changing on a daily basis, and there can be conflict between sanctions issued by different jurisdictions – the whole calling for financial institutions to optimise sanctions screening to reduce risk and avoid potentially punitive penalties of non-compliance. This webinar will...

BLOG

Polymer Capital Management makes strategic data partnership with Bloomberg

Multi-manager hedge fund Polymer Capital Management has made a long-term strategic data and technology partnership with Bloomberg to accelerate growth. Polymer Capital is an Asian-focused multi-manager platform located across six offices in Asia-Pacific, and will use Bloomberg’s data and technology solutions including the firm’s real-time market data feed, B-PIPE; its market-driven credit worthiness indicator, MIPD;...

EVENT

RegTech Summit Virtual (Redirected)

The highly successful RegTech Summit Virtual was held in November 2020 and explored how business and operating models are adapting post COVID and how RegTech can provide agile and enhanced compliance for managing an evolving risk and compliance landscape. The event featured daily live keynotes, panel discussions, presentations, fireside chats and Q&A sessions with content available on demand over five days.

GUIDE

Directory of MiFID II Electronic Trading Venues 2018

The inaugural edition of A-Team Group’s Directory of MiFID II Electronic Trading Venues 2018 offers a guide to the European landscape resulting from new market structure introduced by the January 3, 2018 implementation of Markets in Financial Instruments Directive II (MiFID II). The directory provides detailed profiles of more than 70 venue operators and their...