LAKE SUCCESS, NY -- (MARKET WIRE) -- 12/03/07 --
Broadridge Financial Solutions, Inc.
(NYSE: BR) and Interactive Data Corporation (NYSE: IDC) have announced
today the introduction of enhanced services that are designed to help
clients more efficiently manage their year-end tax information reporting
obligations.
Broadridge has signed an agreement to integrate Interactive Data Pricing
and Reference Data's high quality reference data for corporate bonds and
municipal bonds in Broadridge's Tax Information Reporting Service (TIRS).
Broadridge will utilize this information as the basis for calculations of
Original Issue Discount (OID) amounts and deliver this information directly
to its clients.
In a separate agreement, Interactive Data Pricing and Reference Data has
licensed OID information from Broadridge for distribution via its Original
Issue Discount Service. Firms utilizing this service will also have direct
access to Broadridge's enhanced TIRS content. With this service,
Interactive Data's clients can obtain a broader set of OID data, and have
increased visibility into the factors that comprise OID calculations, all
in one integrated offering. In addition to providing OID, daily ratable
factors, and related data modeled by Broadridge, Interactive Data's
Original Issue Discount Service will also offer discrete fields containing
IRS Publication 1212 OID and ratables as reported by the Internal Revenue
Service.
"We are excited about the value that Interactive Data's information brings
to our product to help us provide the highest level of service to our bank
and brokerage clients to support them in their year-end processing
efforts," said Steve Neiss, Vice President of Tax Information Reporting,
Broadridge. "We are also excited about our dual relationship, which will
bring a robust list of service choices to the financial services industry."
"We decided to work with Broadridge because of our long standing
relationship, and their reputation for providing high-quality products and
client service," said Ray D'Arcy, President of Sales and Marketing,
Interactive Data Corporation. "By combining Broadridge's in depth
knowledge of year-end tax reporting with Interactive Data's vast universe
of high quality reference data, we are able to provide clients with an
offering that can help them work more efficiently. We believe that
incorporating OID-related content from Broadridge's enhanced TIRS will
provide clients using the Interactive Data Original Issue Discount Service
with a more robust offering that leverages Broadridge's tax expertise and
delivers a broader resource of data."
About Broadridge
Broadridge Financial Solutions, Inc., formerly ADP Brokerage Services
Group, with over $2.0 billion in revenues and more than 40 years of
experience, is a leading global provider of technology-based outsourcing
solutions to the financial services industry. Our integrated systems and
services include investor communication, securities processing, and
clearing and outsourcing solutions. We offer advanced, integrated systems
and services that are dependable, scalable and cost-efficient. Our systems
help reduce the need for clients to make significant capital investments in
operations infrastructure, thereby allowing them to increase their focus on
core business activities. For more information about Broadridge, please
visit www.broadridge.com.
About Interactive Data Corporation
Interactive Data Corporation (NYSE: IDC) is a leading global provider of
financial market data, analytics and related services to financial
institutions, active traders and individual investors. The Company's
businesses supply time-sensitive pricing, evaluations and reference data
for more than 3.5 million securities traded around the world, including
hard-to-value instruments. Many of the world's best-known financial service
and software companies subscribe to the Company's services in support of
their trading, analysis, portfolio management and valuation activities.
Through its businesses, Interactive Data Pricing and Reference Data,
Interactive Data Real-Time Services, Interactive Data Fixed Income
Analytics, and eSignal, the Company has approximately 2,200 employees in
offices located throughout North America, Europe, Asia and Australia. The
Company is headquartered in Bedford, MA. Pearson plc (NYSE: PSO) (LSE: PSON), an international media company, whose businesses include the
Financial Times Group, Pearson Education, and the Penguin Group, is
Interactive Data Corporation's majority stockholder.
Interactive Data Pricing and Reference Data provides global securities
pricing, evaluations and reference data designed to support financial
institutions' and investment funds' pricing activities, securities
operations, research and portfolio management. Interactive Data Pricing
and Reference Data collects, edits, maintains and delivers data on more
than 3.5 million securities, including daily evaluations for approximately
2.5 million fixed income and international equity issues. Interactive Data
Pricing and Reference Data specializes in 'hard-to-get' information and
evaluates many 'hard-to value' instruments.
Pricing, evaluations and reference data are provided in the US through
Interactive Data Pricing and Reference Data, Inc. and internationally
through Interactive Data (Europe) Ltd. and Interactive Data (Australia) Pty
Ltd.
For more information about Interactive Data Corporation and its businesses,
please visit www.interactivedata.com.
Broadridge and the Broadridge logo are trademarks of Broadridge Financial
Solutions, Inc.
Interactive Data(SM) and the Interactive Data logo are service marks of
Interactive Data Corporation.
Press Contact:
Tony DeMeoBroadridge Financial Solutions, Inc.
One Park Avenue
New York, NY 10016
212-918-6919
Email Contact