Securities Valuation Corp. (SVC) has gone live with securities pricing information sourced from Telekurs (USA), which it will offer alongside its own pricing data to direct clients and to customers of parent Financial Models Corp. (FMC). The deal is a useful win for Telekurs (USA) and follows recent moves to gain better leverage from the Swiss data provider’s extensive content sets within the North American marketplace.
Under the arrangement, which was sealed during the summer, Telekurs (USA) will provide SVC with real-time data from its Market Data Feed, with coverage of around 150 exchanges globally, including several minor North American exchanges. According to Barry Raskin, president of Telekurs (USA), the data will be used for portfolio and other valuations, with the realtime element of the MDF feed offering users the flexibility to make those valuations whenever they please.
The Telekurs data will be distributed alongside SVC’s own data, which includes pricing and valuations for the Canadian fixed-income marketplace. SVC has a longstanding relationship with Telekurs through which it provides the Swiss vendor with this bond valuations data. Raskin says SVC approached Telekurs early this year after deciding to swap out another, undisclosed vendor’s data.
Raskin says the swap-out was facilitated swiftly, with cut-over handled in a matter of a few weeks. He says Telekurs made some modifications to its MDF pricing fields in order to meet SVC’s requirements. These included the addition of certain fundamental data, such as stock-split information applied to historical pricing data.
Telekurs (USA) has launched several initiatives of late in an attempt to effect broader distribution of the data sets it has at its disposal. During the spring, it switched head-end processing of its North American real-time pricing to Stamford, Conn., from company headquarters in Zurich. In the summer, it announced that it would begin direct sales and distribution of Valordata Feed (VDF), its primary offering for securities master and corporate actions information.
Raskin says the company plans to make several more announcements in the coming months, which are expected to include its initiatives for distributing corporate actions in the ISO 15022 format to North American institutions.