Trading software and data vendor Townsend Analytics is integrating its RealTick front end with the research content and analytical capabilities of Zacks Investment Research in a bid to create a more comprehensive product to compete with services from bigger vendors such as Reuters and Thomson Finanical.
Though the two vendors will still maintain their own product lines, they will combine Townsend's real-time quotes, news and technical analysis with Zacks' in-depth income statement, balance sheet, cash flow, estimates and research data to target equity-only buy-side firms that need deep analytic capabilities together with a real-time data and trading component, says Adam Cohen, vice president of institutional services at Zacks.
"It will be more like an add-on module to RealTick, and the other way round… to our .Net interface," Cohen says.
The first iteration of the combined platforms was released two weeks ago after receiving positive feedback during beta testing, Cohen says. The components currently operate as separate applications within the same container, though Cohen says the vendors will soon introduce a seamless link that enables transfer of information between the two.
Townsend has redistributed various parts of Zacks' data for several years as one of several menu options within RealTick for permissioned users, whereas the new agreement will "heighten the profile of the information available in the platform," says Jeff Wecker, chief executive of Townsend. Both companies' sales organizations will also begin marketing the combined product, for which Townsend's service desk will provide support.
Though Townsend currently carries data from between 80 and 90 markets worldwide, Wecker says the initial focus will be on providing US data to Zacks' US-based buy-side customer base. "Zacks is already focused on the customers that we have been increasing our focus on," he says.
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