Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics, and related services, today announced that its Pricing and Reference Data business has been selected by HedgeSpeed Technology as a main source of financial data for its middle-office liquidity management software platform.
HedgeSpeedâs innovative platform provides tools that are designed to help hedge funds and fund administrators efficiently and effectively manage portfolios. These tools include Borrow & Position Master, which provides automated real-time locates and trade/position capture, historical availability, and a flexible reporting framework for historical analysis of positions and cost. In addition, the Companyâs strategic umbrella also includes Prime Broker and OTC Margin Generation, Cash Management, OTC Swaps Control, and Investor Subscription/Redemption Management.
Interactive Dataâs high-quality reference data for more than 3.5 million securities is being used as a main source for HedgeSpeedâs securities masterfile. Through an interface with Interactive Dataâs RemotePlus SM, HedgeSpeed can provide its clients with seamless access to reference data, securities pricing, FX rates, dividend information and corporate actions data.
âThe complexity of the financial markets makes it critical for firms to have access to easy-to-use tools and high-quality data in one platform,â said Vera MacLeod, managing partner, HedgeSpeed Technology. âThe combination of HedgeSpeedâs innovative software platform and Interactive Dataâs vast universe of reference data provides our clients with a comprehensive offering that can help them work more efficiently by automating processes across the middle office.â
âWe are very pleased that HedgeSpeed has selected Interactive Data as a main source of reference data,â said Ray DâArcy, president of sales, marketing and institutional business development, Interactive Data Corporation. âWe continue to see a growing need for high-quality data to support a diverse range of sophisticated front, middle and back office applications. By integrating Interactive Dataâs reference data into their robust software platform, HedgeSpeed can offer its clients a turnkey approach to efficiently managing their portfolios.â