Interactive Data’s Cloud Utilized by More than 500 Institutions Supporting More Than 100,000 Institutional Users; Helps Financial Institutions Quickly and Cost Effectively Develop and Deploy Data Applications
Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related solutions, today announced enhancements that expand the wide range of data and services that financial institutions can access seamlessly over the Internet. These enhancements, which support Software as a Service (SaaS) Cloud-based computing, include a comprehensive suite of real-time streaming modules as well as robust, pre-defined software components designed to be integrated into nearly any IT infrastructure.
By developing their own applications or accessing web-based applications hosted on Interactive Data’s world-class technical infrastructure, clients have enjoyed a multitude of benefits for many years from Interactive Data’s Cloud. In addition to customized workflows and simplified design integration, Interactive Data’s Cloud can help financial institutions reduce costs by outsourcing market data content collection and delivery, along with managing the technology infrastructure and staff needed to run, manage and maintain related applications. Interactive Data estimates that the delivery of content and infrastructure management through its Cloud can reduce the price point by up to 65 percent compared to an institution’s legacy market data workstations.
Interactive Data’s flexible data conflation and hibernation settings permit clients to access only the data they require, which can help to reduce bandwidth costs while improving network utilization. Interactive Data’s Cloud also features centrally managed upgrades and maintenance for data applications, enabling clients to gain timely access to enhanced services.
“Technology innovation, together with a focus on cost containment, has prompted financial institutions to closely examine their processes, and they have discovered the appeal of outsourcing real-time market data and related applications to a trusted provider of Cloud solutions,” said Jeff Banker, executive vice president, Real-Time Market Data and Trading Solutions for Interactive Data. “Interactive Data’s innovative technology model consists of hosted solutions that can greatly reduce the need for the technology infrastructure and staff previously needed to support a firm’s market data applications. We continue to see attractive opportunities to help our global customer base benefit from our Cloud-based approach of providing access to high-quality financial content and innovative, high-value web-based applications.”
Interactive Data is one of the largest providers of hosted market data infrastructure and applications. The Company’s Cloud delivers a range of offerings that are currently being utilized by more than 500 institutions supporting more than 100,000 institutional users globally.