Exchange Data International launches its own self-sourced UK Corporate Actions data and switches customers over
Exchange Data International launches its own self-sourced UK Corporate Actions data and switches customers over from the previous redistributed service
EDIís self-sourced service introduces a new competitive market
(London. March 26, 2007) Ė Exchange Data International Limited (EDI), the premier provider of high-quality, accurate international securities data announces today it has built out its own UK content (corporate actions and dividends) that will not only more than match existing services to date, but will also offer additional product benefits. As a main competitive difference, EDI will not impose any restrictive distribution arrangements for data use. The service is now live and available.
Jonathan Bloch, CEO and founder of Exchange Data International said, ďWe have been working on this proposition for some time now. We have no concerns in competing head to head with the existing player in this niche area as we are a focused and specialised provider of Corporate Actions data. Our service will be superior to their product, in particular for dual-listed and multi-listed stocks, for which we will provide information from multiple sources.
Bloch continues: ďIn addition, we are also adding a subscription-based service allowing users to view the Shareholder Circulars on which the underlying corporate actions data is based.Ē
Some noted competitive advantages are any customer that chooses Exchange Data Internationalís service will avoid risk of serious short and long-term consequences involving restrictions on further redistribution of data. EDI will continue to provide UK Corporate Actions data in the same format, containing the same fields and providing the same high quality, in-depth information they have come to expect from EDI.
In addition, EDIís extensive experience in capturing Corporate Action announcements from over 150 overseas exchanges will thus prove invaluable as almost a third of all securities listed on the London Stock Exchange are foreign.
To prepare for this transition, EDI undertook a year-long review of the processes and procedures that are currently in place in providing the same services previously provided by the former provider to EDIís customers. To ensure data quality, EDI has been advised by industry leaders involved in the production of UK Corporate Actions for more than 20 years.
In addition EDI has enhanced its UK Corporate Actions and Worldwide Corporate Actions products by adding additional data like Initial Public Offerings (IPOs) and by covering more events than compared to the other competitionís service.
About Exchange Data International
Exchange Data International Limited (EDI) is a global provider of high quality international securities and back office data to around 250 data vendors, investment banks, broker-dealers, fund managers, hedge funds, custodians and software houses in the UK and the US.
EDIís offerings include corporate actions announcements on equities and warrants as well as closing prices from 150 stock exchanges worldwide. Customers can obtain daily updates via FTP, email or the web on IPOís in 74 countries as well as UK tax data on more than 13,000 securities and 4,000 funds run by around 130 management companies. Moreover, EDI plans to launch a corporate actions service for fixed income securities in 2007.
Innovation and rapid deployment of cutting edge technologies have provided the foundation for the expansion of EDIís data product range and geographic coverage. At the same time, the company remains a lean company with low overheads.
EDI is committed to building long-term partnerships with customers by providing resourceful and cost-effective business solutions to meet their data needs. Its professional sales, support and data/research teams deliver top-quality service from the firmís London headquarters. In addition, more than 70 full-time employees located in its data centre in Mumbai, India are dedicated to entering, cleaning, scrubbing and comparing over 400 sources of information.
EDI has won acclaim for the pioneering originality of its data solutions; the company was one of the very first to make back office data available to customers via the internet. EDIís mission: to provide flexible, innovative, yet cost-effective desktop solutions to clientsí ever-changing needs. EDI is a wholly owned subsidiary of Information Publishing Plc.
For more information visit www.exchange-data.com
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