industry-leading data model and StreetReference data management platform
Zurich, Switzerland, and New York - April 8, 2003 - Telekurs Financial, a
leading market data provider, and Financial Technologies International
(FTI), a leading provider of financial enterprise software, have partnered
to bring to the financial services industry a complete integrated global
reference data management solution that combines the functionality of FTI's
StreetReference solution and the comprehensive data content of the Telekurs'
Valordata Feed (VDF(tm)) product.
This integrated solution offers large and small institutions the ability to
take full advantage of the breadth of the licensed Telekurs data and to
establish a centralized common reference data platform that can be applied
enterprise-wide across multiple business lines. The integrated offering
known as "StreetReference with Telekurs" significantly reduces
implementation timescales and complexity by providing a 'shrink-wrapped'
solution, which can be leveraged by a client organization within 90 days.
Since November 2002, Telekurs has been working in partnership with FTI under
a Telekurs development license. FTI has been provided with full access to
the VDF product with direct VDF support from Telekurs VDF competency centers
throughout the world, which is required to release the full power of the VDF
product. FTI has built a comprehensive set of Telekurs adapters for its
StreetReference solution. FTI's data model, StreetModel, was developed,
refined and tuned over the last 15 years based on direct collaboration with
over 20 of the largest financial institutions worldwide as licensed
customers. The industry-leading data model created by FTI enjoys
considerable synergies with Telekurs' own data structures dating back to
1991 when both organizations collaborated on the first set of comprehensive
reference data requirements for the financial services industry; as a
result, little adaptation was required as part of the adapter development.
FTI has comprehensively mapped the complete native VDF data structure and
file format into the StreetReference engine. As part of the Telekurs data
feed, an enhanced edit and validation facility is utilized by
StreetReference to enrich reference data to support client legacy system
needs, to ensure the accuracy of the data, and to facilitate exception
management. Exceptions may be identified in conjunction with Telekurs
provision of content and are passed electronically to Telekurs for follow
The VDF(tm) provides access to one of the most comprehensive data ranges in
the world, delivering master data and corporate actions data in a
structured, encoded form, as well as valuation prices on approximately 1.8
million financial instruments. With over 50 message types and around 1,500
data fields, the VDF offers an extraordinary depth of data, expertly handled
by FTI's StreetModel.
According to Tim Lind, senior analyst, TowerGroup: "Data management
solutions must include off-the-shelf adapters to truly leverage the data and
reduce the implementation time, cost and risk involved in automating the
processing of reference data elements and complex corporate actions events.
To achieve such benefits, optimal reference data management solutions
require data providers and software vendors to establish a level of
certification or endorsement by working closely together to assure adaptors
have been evaluated, tested, and are accurately interpreting data
"The number of sources and complexity of reference data requirements makes
the management of reference data exponentially more difficult as more
products and processes are incorporated into the operation. This solution
dramatically simplifies the implementation: reducing the time, and cost,
while providing a powerful flexible data platform," says Michael Meriton,
president and CEO of FTI. "We at FTI are excited at the significant market
opportunities as a result of our joint partnership with Telekurs to offer a
much sought after total solution to leverage the breadth and quality of the
data provided by Telekurs' VDF(tm) ."
"Finding the right technology partner is never easy," says Eugen Niesper,
CEO of Telekurs Financial. "FTI's high level of expertise, commitment,
integrity and teamwork demonstrated during this integration, has proven that
this collaboration is ideal. We are confident that clients will gain the
maximum benefit of the depth of our VDF(tm) utilizing FTI's
Karl Landolt, chief head of data operations at Telekurs Financial, states:
"FTI and Telekurs have partnered to deliver a complete solution, validated
and verified by our competency centers to ensure the accuracy and
completeness of the offering."
The StreetReference with Telekurs product is currently in beta development
and will be offered for general release to existing Telekurs and FTI
customers and prospects at the end of Q2 2003. In the Americas, Telekurs'
VDF(tm) is sold exclusively through Standard & Poor's, a division of The
McGraw-Hill Companies (NYSE: MHP). Telekurs and Standard & Poor's have
operated under a strategic marketing alliance since 1999.