Telekurs has begun to sell its Valordata Feed (VDF) to financial institutions in the US directly. The company says the move will not affect customers and users of Telekurs market data contracted and licensed through US distributors and sales agents.
The VDF is a source of securities master data and corporate actions information, presented in a structured, encoded format. The VDF provides information and valuation prices for nearly 2 million financial instruments.
In addition to VDF, Telekurs will also directly offer its other securities processing products to the American market. These products include: the Valordata Browser, a search tool for the VDF; TB II, the predecessor to VDF; and intra-day and end-of-day portfolio pricing services. In addition, Telekurs will offer products for cross-border securities identification and entity exposure management that the company has developed with third party partners.
Prior to this change in its American sales and distribution agreements, the company focused on its streaming market data feeds in the US market. Telekurs is hoping that the ability to distribute the back office data solutions already widely used in Europe will enable the company to offer US customers a broader solution.
“Our change in tactics is a necessary response to increasing demand for integrated market data packages sourced directly by the provider,” explains Barry Raskin, president of Telekurs (USA). “Our modified distribution agreements allow Telekurs to concentrate on servicing new US and Canadian customers for VDF and our entire suite of securities processing products.”
Telekurs says interest in Telekurs VDF in the American market has jumped as a result of its widespread acceptance in Europe, where there are more than 200 subscribers, including major global custody banks and depositories.
“We recognize that if our back office data solutions are to duplicate their European success in the Americas, we have to adopt a ‘hands-on’ approach to sales, service and maintenance,” adds Raskin. “Our fully automated feed and the richness of the data are making VDF a prominent choice for moving back office operations closer to STP.”