London: 25 August 2005
FT Interactive Data Europe, part of Interactive Data (NYSE: IDC) and a leading supplier of financial information and analytical software to global markets, now offers its customers the choice of receiving its ISO 15022 formatted corporate action files via the SWIFTNet network in addition to its already available direct service via the internet.
FT Interactive Data has demonstrated its belief in open standards by its commitment to industry initiatives such as ISO 15022: its live release on 2 August 2004 was the culmination of significant development work by FT Interactive Data to map global corporate actions data from its proprietary formats to the MT564 event types specified within the industry data standard. Since then, FT Interactive Data has made corporate actions content available in the ISO 15022 standard for delivery over the internet (ftp/http). And while corporate actions data is the first subset of content from FT Interactive Data to be delivered over SWIFTNet, pricing and static data will follow in due course.
Nat Sey, FT Interactive Data Europeâs manager of infrastructure and delivery, said: "Market feedback shows that there is significant interest in receiving ISO 15022 formatted corporate actions data over the SWIFTNet network - FT Interactive Data considers this approach to be the natural progression of its open standards strategy. SWIFT has an excellent record of promoting standardisation across the industry and we are delighted to work with them on this initiative.
"Market participants understand the value of a 'single pipe' and format for receipt of multiple feeds. They also appreciate the reduction in interpretational risk that is afforded by the use of an internationally recognised ISO standard," Sey continued. "With this risk reduction comes anticipated cost reduction as a result of not having to maintain multiple feed handlers for what might actually be similar content."
Catherine Marks, SWIFTSolutionsâ manager, Asset Services, added: "We are very pleased that FT Interactive Dataâs corporate actions service has now gone live over SWIFTNet. Accessing data over the SWIFTNet network offers several advantages. Users receive information in a common format that is easier to process, and, from an operational point of view, users will be able to access the data from a single window, taking away proprietary connections. It has also proven to be a very cost effective way of receiving market data."
FT Interactive Data, a provider of corporate action event data for over 30 years, has a wealth of experience in gathering, updating, validating and delivering corporate actions data to back office environments. Its comprehensive corporate action information available in ISO 15022 format includes rights issues, bonus issues, mergers and acquisitions, and redemptions.