IDC Expands Services

Interactive Data Corporation (IDC - Analyst Report) continues to expand its solutions and services. The leading provider of financial market data recently declared that its Real-Time Services business has added new market data coverage to PlusFeed, its low-latency, consolidated global datafeed. The company has also added different emerging market exchanges to PlusFeed services. 

Interactive Data has added exchanges like National Commodity & Derivatives Exchange ( India ) in its Level 1 data services and Micex ( Russia ) Level 2 data services, as well as depth-of-market data for Johannesburg ( South Africa ) and Bombay ( India ) Stock Exchanges. Coverage of the Tokyo Financial Exchange ( Japan ) has also been added. 

This apart, a few weeks back the company announced that its Pricing and Reference Data service business has enhanced the horizon of the interest rate swap valuation service. This service is of special help to clients, since it provides information to efficiently value portfolios in the over-the-counter (OTC) derivatives segment. 

The company is also offering currency swaps in Australian dollars, British pounds, Czech koruna, Danish krone, Euros, Hungarian forint, Japanese yen, Norwegian krone, Polish zloty, Swedish krona, Swiss Francs, South African rand, U.S. dollars, Canadian Dollar and New Zealand Dollar. 

The Bank for International Settlements (BIS) mentioned at the end of March 2009 that the notional amount of interest rate and currency swaps outstanding was $342.8 trillion at the end of 2008 and the company claims that it covers a substantial portion of that interest rate swap outstanding. 

The new services will help the company in the current economic environment, as it expands its geographic footprint, increase customer satisfaction and improve prospects within existing markets. This should, in turn, translate into a healthier topline. IDC provided decent third quarter results with revenue moving up around 2% from the previous year and EPS exceeding our estimate. 

As the company’s business is directly related to the financial services industry, a gradual revival in the sector will expand business opportunities for the company.

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