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

A-Team Insight Blogs

Interactive Data’s Pricing and Reference Data Business Boosts Second Quarter Results

Subscribe to our newsletter

According to Interactive Data’s second quarter results, which were released yesterday, the vendor experienced an increase in revenue of 9.5% and an increase in net income of 15.1% for the period ending 30 June. The growth in North America and Europe over the second quarter is largely attributed to the performance of its pricing and reference data business.

Interactive Data’s total second quarter 2008 revenue in North America grew 8.5% to USD$131.5 million, up from $121.3 million in the same period last year. As well as growth within its US pricing and reference data business, the vendor highlights the continued institutional adoption of its real-time datafeed services as a contributing factor to this performance.

Likewise, its revenue in Europe increased 10.9% to US$49.9 million, up from US$45.0 million in the comparable period in 2007. Interactive Data again directly attributes this to strong results within its European pricing and reference data business.

Interactive Data’s Asia Pacific revenue of US$4.7 million in the second quarter of 2008 was up 27.0% from $3.7 million in the second quarter of 2007 and this is primarily attributed to its to strength in Australia, according to the vendor.

Stuart Clark, president and chief executive officer of Interactive Data, comments: “Organic revenue growth of 7.7% during the second quarter of 2008 reflects an outstanding performance at our pricing and reference data business, as well as continued momentum with our real-time datafeeds business.”

He continues: ““During the second quarter of 2008, new sales activity was robust and renewal rates across our institutional businesses remained at approximately 95%. An important highlight during the quarter was our agreement to acquire Kler’s Financial Data Service, a leading provider of reference data to the Italian financial industry. This acquisition will enable us to increase our presence in Italy and further expand the breadth and depth of valuable reference data that we collect and deliver to our clients worldwide.”

On June 26, 2008, Interactive Data announced an agreement to acquire Kler’s Financial Data Service for a purchase price of €19.0 million (approximately US$29.9 million based on current exchange rates) in cash. The transaction is expected to be completed early in the third quarter of 2008, contingent upon customary closing conditions.

Furthermore, Xcitek, which was acquired in May 2007, contributed incremental revenue of US$0.8 million to the second quarter of 2008.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: How to maximise the use of data standards and identifiers beyond compliance and in the interests of the business

Date: 18 July 2024 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Data standards and identifiers have become common currency in regulatory compliance, bringing with them improved transparency, efficiency and data quality in reporting. They also contribute to automation. But their value does not end here, with data standards and identifiers...

BLOG

FactSet Releases LLM-Based Knowledge Agent for Junior Bankers

FactSet, a digital platform and enterprise solutions provider, has released the beta version of FactSet Mercury, a knowledge agent based on a large language model (LLM) and designed to power digital workflows and enhance fact-based decision making. The solution optimises company research workflows for junior bankers, offering a single, trusted conversational interface to access key...

EVENT

TradingTech Briefing New York

Our TradingTech Briefing in New York is aimed at senior-level decision makers in trading technology, electronic execution, trading architecture and offers a day packed with insight from practitioners and from innovative suppliers happy to share their experiences in dealing with the enterprise challenges facing our marketplace.

GUIDE

Data Lineage Handbook 2019

Welcome to our latest handbook on data lineage, a critical concern for data managers working to achieve regulatory compliance, deliver operational gains, and provide meaningful value to the business. The handbook covers the complete scope of data lineage, with a view to helping you win management buy-in and budget, decide whether to build or buy...