The Pricing and Reference Data business of Interactive Data Corporation, a provider of financial market data, analytics, and related services, has been granted a patent by the U.S. Patent and Trademark Office for the fair value pricing of a financial asset.
The business process covered by the patent was invented by Peter Ciampi, a market analyst at Interactive Data Pricing and Reference Data, and Eric Zitzewitz, assistant professor at the Stanford Graduate School of Business and a consultant to Interactive Data.
“We are very pleased to have been able to help mutual fund companies meet regulatory requirements and safeguard investors’ interests against market timers,” says Stuart Clark, president and chief executive officer of Interactive Data Corporation.
“When Peter Ciampi first brought us his idea for the Fair Value Information Service, we felt it had the potential to be an important tool for the mutual fund industry. This encouraged us to provide support for Peter’s subsequent collaboration with Eric Zitzewitz that resulted in the business process that has now been granted a patent.”