Enhanced Offerings Unite Broadridge's Tax Reporting Expertise With Interactive Data's Reference Data
LAKE SUCCESS, NY--(December 03, 2007) - 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."
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 Financial Solutions, Inc.
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