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Telekurs (U.K.) Reorganizes; Streamlines Product Line

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Telekurs Financial’s U.K. operation is planning to rationalize its product line to 10 products in 2005. The company also unveiled its new organizational structure for next year and is gearing up to open a new sales office in Edinburgh in December.

The rationalized product line will fall into reference data, corporate actions and pricing data categories, according to Richard Newbury, head of product services, who spoke at Telekurs Financial’s recent user group meeting in London.

The new line-up will call for the phase out products such as FinXS and FinWin, which are being replaced with Telekurs iD.

The former VPS and EVPS pricing services are being renamed Intraday Pricing Service. Telekurs Financial is in addition planning to make this service available to VDF clients by providing the data in the VDF’s proprietary PRD format “so clients can integrate the pricing data with fewer technical headaches,” said Newbury. The company is also planning to enhance the input file formats to cope with mixed securities identifiers. This will eliminate the need for clients to submit individual files for each securities identifier scheme they use.

In the near future, said Newbury, the APiD service will allow clients with access to a wide range of Telekurs Financial’s database content on request, in real-time and through a single interface.

Through the year, Telekurs Financial has added 36 new price sources, including Xetra European Stars, London Stock Exchange Eurosets, Boston Options Exchange, and Eurex US. It plans to add a further six sources before the end of the year, including the Baltic Exchange and Minneapolis Grain Exchange.

The product services group has been split out from a larger group responsible for day-to-day operations in order to improve the services available, said Newbury. Working within Newbury’s group is: Robert White and Daniel Pedrojetta, both responsible for TB II, customisation and internal databases; Nick Caplin, pricing services and customisation; Louise Lau, VDF and CARS; and an unfilled role for a real-time specialist to manage market data feeds and APiD.

In the wider corporation, Telekurs Financial presented its new organizational structure for 2005, (see Chart 1, Page 11 , including new hires (see Industry Identifier, Page 19).

Also discussed at the user meeting was Telekurs Financial’s ISO 15022 product (see Reference Data Review, May 2004) and the work Telekurs Financial has done with the London Stock Exchange. Giles Arbuthnott, product manager at the London Stock Exchange explained the timeframe for the expansion of the Sedol database to covering global equities by April 2005, global bonds by October 2005, and trusts, rights, warrants, futures and options by April 2006, to total an estimated 1.5 million securities in the database. In this endeavour, the LSE is sourcing data from Telekurs Financial’s VDF, as well as feeding it back to Telekurs Financial once its gone through the Sedol database. As Arbuthnott said, “We are continuously cleansing each other’s data.”

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