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Vol 19 No 6
SCROLLING NEWS
11/03/03
Aegon Selects Reuters Research For Platform
Edinburgh-based Aegon Asset Management selected Reuters to develop a Web-based investment research and analytic desktop solution. The platform features Reuters market data feeds as well as Reuters Research content such as global broker research, global detailed estimates and global fundamental data. The platform also integrates Aegon’s research reports, documents, stock recommendations, target prices and commentary. It is designed to support Aegon’s investment process and will allow Aegon to share proprietary information between different locations. Other recent deals for Reuters Research include one with asset manager Scottish Widows Investment Partnership, where it added Reuters Fundamentals from Reuters Research to its portal for research analysts (IMD, Oct. 13).
Cortal Consors Contracts with Dow Jones and vwd
Franco-German online broker Cortal Consors has signed contracts with Dow Jones Newswires (DJN) and vwd Vereinigte Wirtschaftsdienste to provide their respective news services to Cortal Consors’ French-and German-language Web sites. DJN will supply the French Web site of Cortal Consors with its French news service DJ Bourse, which provides real-time news and commentary on global equities, bonds and foreign exchange markets. Meanwhile, vwd Vereinigte Wirtschaftsdienste will provide Cortal Consors with its German news service.
BondTicker Adds Loan Pricing
US credit trading platform and data provider MarketAxess announced that MarketAxess Corporate BondTicker now includes syndicated loan indicative prices provided by JPMorgan. The company says that the availability of the information will help advance transparency in the leveraged loan marketplace. BondTicker provides TRACE corporate bond data (IMD, June 30).
Two Clients Sign for ProphetX Data Display
Two more firms have signed up for the ProphetX market data display and trading software offered by technology vendor CMS WebView. Commodities trading companies Vitol and E.D & F Man will use ProphetX for their energy and commodity traders. Fortis Bank, broker Ridge Futures and commodities trading firm Olam International signed up for the ProphetX market data display and trading software for their energy and commodities desks in London in September (IMD, Sept. 29).
Credit Lyonnais Takes On Corporate Actions
XcitekSolutionsPlus, a provider of corporate actions technology, will provide Credit Lyonnais Securities (USA) Inc. with an interface to the Fidelity ActionsXchange data service. The interface will allow Credit Lyonnais to automate the capture and processing of Fidelity ActionsXchange’s corporate actions data through XSP, Xcitek’s corporate actions solution. Fidelity ActionsXchange is a Fidelity Capital company that provides corporate actions processing services (IMD, June 16). Fidelity ActionsXchange receives corporate actions data from multiple sources. Staff compare that data, resolve conflicts and add to the information.
GL Trade Increases Turnover
French market data and technology vendor GL Trade reported that turnover rose nearly six percent during the third quarter to E93.7 million. The company also said that 71 percent of total turnover for the nine months ending in September came from outside France, which marks a 67 percent increase from the nine months ending in September 2002. GL Trade’s trading business has grown six percent since the beginning of 2003.
iBoxx Launches High Volatility Sub-Index
The iBoxx.CDX consortium announced the launch of a new tradable sub-index of its credit default swaps (CDS) index. The new index, dubbed Hvol, includes 30 of the highest volatility credits in iBoxx CDX.NA.IG, a US investment grade CDS index. Trading on the sub-index began last week with a spread level set at 125 basis points. The names of credits in the sub-index are available on Bloomberg or from the consortium member firms, which include ABN Amro, Barclays Capital, Bear Stearns, Citigroup, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs, HSBC Bank USA, Lehman Brothers, Merrill Lynch and UBS.
Market Data Revenues Down for TSX Group
TSX Group, which operates the Toronto Stock Exchange and TSXVenture Exchange, collected market data fees of $12.3 million in the third quarter of 2003, a 31 percent decrease from $17.8 million in the corresponding period of 2002. However, market data revenues for Q3 2002 were high due to the recovery of $5.2 million of revenues from a subscriber who had under-reported usage. Market data revenue for Q3 2003 fell about two percent compared with the same period in 2002 when the $5.2 million is excluded. Professional data subscriptions dropped 7 percent when compared with Q3 2002.
