Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related solutions, today announced that its Real-Time Services business has signed an agreement with XData, a market data solutions provider for the Middle East and Africa (MEA) region, to supply financial market data from exchanges in the Gulf Cooperation Countries (GCC). The data is scheduled to go live in the fourth quarter of 2009, and will be made available via PlusFeedSM, Interactive Data's consolidated, low-latency datafeed.
Interactive Data will source real-time pricing for the Middle Eastern stock markets from XData, covering: Abu Dhabi Securities Exchange (United Arab Emirates), Bahrain Stock Exchange (Bahrain), Doha Securities Market (Qatar), Dubai Financial Market (United Arab Emirates), Muscat Securities Market (Oman), NASDAQ Dubai (United Arab Emirates), and Tadawul (Saudi Arabia).
Interactive Data will access the feeds via the XD[TickerPlant], XData’s ultra-low latency information dissemination platform, using XData’s proprietary infrastructure XD[Xtranet].
“Interactive Data’s global customer base and XData’s market data solutions for the Middle East make this arrangement an ideal match,” said Nezar Freeny, Founder and CEO of XData. “We’ve seen strong demand for market data from this region, and with our knowledge and technical expertise in providing solid connectivity to the exchanges, and real-time market data feeds to international customers, we are delighted to enter into this agreement with Interactive Data.”
“PlusFeed already covers a wide array of data and we are consistently seeking ways to further enhance the feed with additional new coverage and the latest technology,” added Hilary London, general manager, EMEA, Interactive Data’s Real-Time Services business. “This arrangement with XData creates a strong value proposition for our customers, allowing them to be among the first to get direct access to data from key exchanges in the Middle East.”
PlusFeed delivers low latency data on over six million securities from more than 450 sources around the world, including multi-asset class instrument coverage and extensive Level 2 data. The feed is used by financial institutions globally to power algorithmic and electronic trading applications.