New web application and tools designed to help CFD traders
Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related services, today announced that its Managed Solutions business has developed a new research portal for City Index Group Ltd ('City Index'), a leading London-based provider of retail derivative trading services including contracts for difference (CFDs), foreign exchange and spread betting.
Interactive Data Managed Solutions has designed and developed web-based applications and tools to help enable City Index clients research the financial markets and make investment decisions. Underlying data across multiple asset classes for the portal has also been provided by Interactive Data's businesses. Interactive Data has customised – and is also hosting and operating – the portal on behalf of City Index.
Alexis Webster, commercial development director of City Index, said: "We are delighted with the new portal developed by Interactive Data. We provide access to thousands of instruments on the world's financial markets through our real-time trading platforms. These newly-developed trading support tools – along with investor research and education – are designed to help our clients react swiftly to market movements and make informed trading decisions."
David Hann, general manager, EMEA, Interactive Data Real-Time Services, added: "We are very pleased to have worked with City Index on this project. We successfully designed and developed the new portal in a very short timeframe, and have integrated data covering numerous asset classes. The portal is designed to enable City Index clients to research and view underlying information to CFDs needed for their trading activities."
A CFD, a type of financial derivative, is an agreement between a client and a provider to exchange the difference between the opening and closing value of a contract.