The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

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

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.

Related content

WEBINAR

Upcoming Webinar: Managing the transaction reporting landscape post Brexit: MiFID II, SFTR, EMIR

Date: 16 March 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes The transaction reporting landscape has, for many financial institutions, expanded considerably in size since the end of the UK’s Brexit transition period on 31 December 2020 and the resulting need for double reporting of some transactions to both EU...

BLOG

Alveo Adds Postgres to Roadmap Combining Open Source Components with Core Data Management Solutions

Alveo, formerly Asset Control, continues to build its commitment to open source solutions with the addition of support for the Postgres open source relational database within its Prime, formerly AC Plus, financial data aggregation and mastering product. Postgres provides an optional replacement for Oracle database technology used by Alveo and its clients, and can reduce...

EVENT

RegTech Summit New York City

Now in its 5th year, the RegTech Summit in NYC explores how the North American financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Entity Data Management Handbook – Fifth Edition

Welcome to the fifth edition of A-Team Group’s Entity Data Management Handbook, sponsored for the fourth year running by entity data specialist Bureau van Dijk, a Moody’s Analytics Company. The past year has seen a crackdown on corporate responsibility for financial crime – with financial firms facing draconian fines for non-compliance and the very real...