Interactive Data Corporation (NYSE: IDC), a leading provider of financial market data, analytics and related solutions, today announced the formation of the Real-Time Market Data and Trading Solutions Group, which will combine the resources of its eSignal, Managed Solutions, and Real-Time Services businesses into a single organization. The formation of this new group supports the Companyâs plans to tightly integrate its suite of real-time market data and innovative, hosted technology services and solutions to more effectively capitalize on opportunities in the wealth management and electronic trading sectors.
Ray DâArcy, Interactive Dataâs president and chief executive officer, stated, âDuring the past year, we have seen that Interactive Data's real-time value proposition is more compelling when we approach customers with a suite of integrated, real-time offerings that can include global real-time market data delivered via low-latency digital data feed services, a wealth management workstation, or a customized, hosted web solution. At the same time, attractive opportunities in the wealth management and electronic trading sectors are emerging as clients seek new alternatives in the marketplace. By forming our Real-Time Market Data and Trading Solutions Group, we position ourselves to mobilize our resources more effectively and efficiently to address the real-time needs of our institutional customers around the world, and maximize the investments weâve made to build our world-class technical infrastructure.â
To lead this group, Interactive Data has appointed Jeffrey Banker, most recently Interactive Dataâs managing director of strategic market development, to the newly created position of executive vice president, Real-Time Market Data and Trading Solutions. DâArcy commented, âJeff is well suited for this role due to his proven ability to facilitate collaboration across our Company, his technology expertise and vision, and his knowledge of the wealth management and electronic trading markets. I am confident that by continuing to make prudent investments to advance our real-time offerings, and adding valuable content and capabilities through strategic acquisitions, we can deliver exceptional value to our customers worldwide and drive revenue growth in this part of our business.â
Banker, 43, will report directly to Ray DâArcy. As Interactive Dataâs managing director, strategic market development, Banker focused on leveraging content and resources across the Company to accelerate the development of new offerings for clients and focus on key growth opportunities. Banker joined Interactive Data more than six years ago and has since held a variety of positions where he helped champion the development of successful new products that utilized capabilities from across the Company, including the Basket Calculation Service. Prior to joining Interactive Data, he held senior management positions at Gomez Performance Networks, now a division of Compuware, and Fidelity Investments. A more detailed biography of Banker is available on Interactive Dataâs website. Among the executives now reporting directly to Banker will be Carsten Dirks, managing director, Interactive Data Managed Solutions; Jay Kilberg, managing director, Feed Solutions; and Chuck Thompson, president, eSignal.
Commenting on his appointment, Jeff Banker said, âI am excited to take on this new leadership role. Financial institutions are grappling with a myriad of technical and budgetary challenges that are impacting their latency sensitive trading, wealth management and other front office operations. These challenges include managing rising market data volumes, minimizing data latency in order to effectively execute their trading strategies, differentiating their services to their end users and gaining access to high-quality global content. Interactive Data has the content, capabilities, offerings and resources to help customers address these important issues. By aligning previously separate engineering, product development and infrastructure resources, and by advancing our recently announced strategic acquisitions, we can build on the considerable progress weâve made during the past several years to more effectively target new growth opportunities, further integrate our services and solutions, and differentiate Interactive Data in the marketplace.â
Among Interactive Dataâs key highlights, achievements and milestones in 2009, the following help illustrate the potential of this newly formed group:
â¢ Earlier this year, Interactive Data announced that long-time customers Raymond James and Pershing both began deploying the Companyâs browser-based, wealth management workstation, Market-Q. In addition, Interactive Data developed a customized Web-based portal that Pershingâs introducing broker-dealer and independent registered investment advisor (RIA) customers are now accessing through the Pershingâs NetX360â¢ technology platform.
â¢ Throughout 2009, Interactive Data has announced that its Web-based solutions are being used to create customized portals for a number of prominent institutions, infomedia sites and third-party software application suppliers such as Bank Sarasin of Switzerland, UK-based London Capital Group, DAB Bank of Germany, msnbc.com, ETF.com and Scivantage.
â¢ Interactive Data has continued to win new institutional customers and redistribution partners for its real-time market data services in 2009 while expanding its real-time coverage to include Level 2 data for a variety of global exchanges, a broad range of emerging markets exchanges and other market sources.
â¢ To help accelerate the growth of its Web-based hosted solutions in North America, Interactive Data completed the acquisition of the data and tools assets of the Online Financial Solutions (âOFSâ) business from Dow Jones & Company. This acquisition enables Interactive Data to more than double its growing Web-based solutions business in North America. Interactive Data plans to focus on expanding OFSâs current relationships with major U.S.-based financial institutions by offering them a broader range of Web-based offerings, real-time market data services and other desktop solutions.
â¢ To help address the latency sensitive trading needs of its institutional customers, Interactive Data separately announced today an agreement to acquire 7ticks, LLC, an innovative provider of electronic trading networks and managed services. Acquiring 7ticks accelerates Interactive Dataâs plans to increase the flexibility, agility and resiliency of its global network infrastructure, thereby supporting a broader range of high-quality direct exchange access and consolidated datafeed services.