"Transforms reference data from cost to competitive edge"
Will Provide Clients with Unprecedented Flexibility to Efficiently Manage Volatile and Costly Aspects of Data Operations
Interactive Data Corporation, a leading provider of global pricing, reference and corporate actions data, today announced the launch of ApexSM, an innovative suite of reference data services. Apex provides financial institutions with the ability to access and employ data for over 10 million current and historical instruments across an extensive range of asset classes. Apex data rich applications will include intraday file delivery, event based messaging, web-services application program interfaces, and a fully managed database service.
Growing market, regulatory and cost pressures make new strategies that offer flexibility and long-term cost efficiencies vital to data management operations. Built upon a multi-million dollar infrastructure investment that supports a rich data model, an innovative business application layer and a suite of market-leading interfaces, Interactive Data has created a unique approach to employing descriptive, corporate actions and pricing data. The Apex suite of reference data services will deliver industry leading data quality and consistency. Leveraging standard technologies such as XML, Apex has been specifically designed to make data integration significantly easier, while increasing efficiency and reducing operational costs.
“Global financial institutions that invest in a wide range of asset classes and security types dedicate significant technology, staffing and capital resources toward acquiring and managing data, and expanding their infrastructure when data volumes increase,” said Robin Simpson, managing director, Reference Data for Interactive Data. “Apex addresses these pain points and can revolutionize the way our clients access data, manage their existing IT infrastructure, and scale to meet increased data volumes when expanding to new geographies or asset classes. Apex helps to automate the data management process -- transforming reference data from a cost to a competitive edge instead.”
In addition to its current data delivery service options, including messaged based delivery; Interactive Data anticipates launching a fully hosted application interface and the option of a fully-managed database in early 2013. The managed database service will leverage Interactive Data’s infrastructure and hosting service expertise to help clients accelerate their workflows. This outsourced data infrastructure and support model will provide clients with unprecedented flexibility to outsource volatile, unpredictable or costly elements of their data operations.
"The future of data management will focus on our ability to link disparate data sources to get a variety of views that support complex analysis. Interactive Data’s new Apex product is a good illustration of how to embrace standards to support the new demands of regulatory oversight and operational efficiency," said Michael Atkin, Managing Director of the Enterprise Data Management Council. "I congratulate them for embracing this approach and for understanding the value of easy integration of their data assets into their customers’ operating environments."
Atkin joined a panel of industry experts at an Apex launch event held on October 24 at the NASDAQ MarketSite in New York. More than 100 professionals from financial institutions and service providers participated in the forum.