Interactive Data Corp. reported an 18% rise in first-quarter revenues, although net income was about flat. The company – whose FT Interactive Data is the market share leader in end-of-day pricing services – posted sales of $117.6 million for the first quarter, which represented a 2.2% rise net of new acquisitions and exchange rate fluctuations. The company bought the market data client base of the former PC Quote, and the Comstock data feed business from McGraw-Hill’s Standard & Poor’s Corp. The FT Interactive Data business generated revenue of $79.3 million, up 5.8% or 2.3% net of currency impact. Its North American business was up 7.8%, Europe down 1.1% and Asia roughly unchanged. Stuart Clark, president and chief executive said IDC’s sales growth came “in spite of a high level of cancellations. This had been expected in the first quarter due to the timing of a number of consolidations within our customer base. In addition, our growth was impacted by ongoing cost-containment initiatives by clients, and the previously announced closure of the Index Services business in Europe.” Clark added that “Spending by institutional customers has improved from last year at this time, and renewal rates remained at or above the 95% level.” Elsewhere, IDC reported progress in its infrastructure initiatives. “We continued to invest in our new data centre in Boxborough, Mass.,” Clark said. “We completed the facility’s build-out in January, and have since installed the equipment and network infrastructure…. Our goal of consolidating six data centres and ticker plants in the U.S. to two primary facilities is an important initiative.”
A-Team Insight Blogs
Upcoming Webinar: Entity identification and client lifecycle management – How financial institutions can drive $4 billion in cost savings
Date: 21 January 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes A new model in Legal Entity Identifier (LEI) issuance has created significant opportunities for financial institutions to capitalise on their KYC and AML due diligence. By becoming Validation Agents and obtaining LEIs on behalf of their clients, financial institutions...
The Association of National Numbering Agencies (ANNA) has further expanded the ISIN-to-LEI mapping service it provides in conjunction with the Global Legal Entity Identifier Foundation (GLEIF) to cover ISINs in an additional group of jurisdictions. The mapping service developed collectively by the GLEIF, ANNA and its National Numbering Agencies (NNAs) was launched as a pilot...
The Data Management Summit Virtual explores how financial institutions are shifting from defensive to offensive data management strategies, to improve operational efficiency and revenue enhancing opportunities. We’ll be putting the business lens on data and deep diving into the data management capabilities needed to deliver on business outcomes.
The highly specialised realm of high frequency trading without doubt is a great driver for a range of high performance technologies that are becoming essential tools for Wall Street. More so than the now somewhat pedestrian algorithmic trading and analytics/pricing applications that are usually cited as the reason that HPC is hitting the financial markets,...