Corporate actions data vendor Exchange Data International (EDI) and DPC Data, a data publishing and business process outsourcing company, have signed a joint marketing agreement, under which both vendors will provide their respective user bases with access to their data offerings. David Moore, EDI fixed income manager, explains that the vendor reckons the combination of bond reference data and corporate actions data will prove useful for both sets of customers.
“Teaming with DPC Data allows EDI to enhance its Worldwide Fixed Income service with detailed information on US municipal bonds,” says Moore. He claims the partnership means the service now provides full coverage for global corporate and government securities.
Rather than build a database itself, EDI decided to partner for practical reasons, continues Moore. “The sheer volume of municipal bonds and the exhaustive information available make it impractical to recreate the Securities Exchange Commission (SEC) sponsored archive built by DPC Data over more than a decade.”
Michael Ruvo, president of DPC Data, also believes the partnership will be beneficial for its own clients due to its expanded geographic coverage. “US clients will profit from access to global bond data and through EDI’s services,” he adds.
EDI has experienced a busy start to the year in terms of market positioning and, in February, launched a new company in partnership with Standard & Poor’s to provide corporate action and dividend data for globally listed firms. The vendor is seemingly keen on partnerships and established a number last year with other market players, including EuroMTS and Advent.