StatPro has selected SIX Financial Information’s intraday pricing service to automate delivery of its delayed equity pricing snapshot service and expand the universe of data coverage within the service. The portfolio analytics specialist considered a number of potential partners before selecting SIX Financial Information on the basis of its high-quality data, and has dropped previous providers that supported the equity pricing snapshot service.
The companies finalised their agreement in the final quarter of 2012 and StatPro went live with the enhanced equity pricing snapshot service that is integral to its data services in January 2013.
According to Rasha Al-Aswad, senior vice president at StatPro North America, “We have offered a delayed equity snapshot pricing service for a couple of years, but manual intervention was needed to deliver it to clients. We wanted to automate the process and enhance the universe of data. We can now pass the data to our customers in a delayed form throughout the day regardless of the level of customisation they require.”
While SIX Financial Information offers both a real-time and delayed intraday pricing service, StatPro has initially selected to offer a delayed service on the basis of client demand, but it could move on to provide a real-time service if required.
Al-Aswad says the SIX Financial Information service is gaining interest among StatPro clients, particularly in North America, and notes that this is likely to be only the beginning of a partnership with the data provider.
Looking beyond the equity pricing snapshot service, she says: “As clients and markets change, we will explore more options with SIX Financial Information. We are always looking to enhance our services and increase our efficiency internally and we could do both of these with SIX.”
Barry Raskin, managing director of SIX Financial Information USA, adds: “StatPro’s use of our intraday pricing service is perfectly aligned with the intent of the product, which is designed to be flexible enough to deliver exactly the fields for exactly the securities our clients need, at the times they need them.”
StatPro is not alone in acting as a distributor for SIX Financial Information’s intraday pricing service. Other partners include FinancialCAD, which offers the SIX Financial Information service as part of its derivatives pricing service; SunGard, which uses the service in its portfolio valuation data service; and Triangle Park, which uses the service to set thresholds in its compliance, risk and monitoring tools.