TAP, Xcitek Integrate For CA Data

New York-based TAP Solutions plans to build a feed handler to load corporate actions data from Xcitek into its TAPMaster data management platform, with several other data providers to follow, officials tell Inside Market Data.

As a result, mutual clients will be able to distribute reference and corporate actions data across different systems for data retrieval and querying.

The handler, due out by June, will add Xcitek's corporate actions data to existing pricing, corporate actions and reference data feeds from FT Interactive Data, Reuters, Bloomberg and the Depository Trust Co., among others, officials say.

TAP will also soon add support for feeds from the Options Clearing Corp. The feed handler went live with one client last week. It is also preparing feed handlers to add Standard & Poor's CrossWalk, Morningstar's Factsheet and Bloomberg for Securities data, all in this quarter. A handler for Capco's Global Index Monitor should follow in the third or fourth quarter of this year.

Marc Alvarez, executive vice-president of products and marketing at TAP Solutions, says the addition of Xcitek was in response to a request from a major New York investment bank customer. The bank has been taking data from Xcitek for around 15 years for 15,000 advisors and customer accounts in its retail division.

Charles Price, senior vice-president at Xcitek, says that distributing the data via TAPMaster will enable the bank to use the data throughout its organization.

"Once it is delivered, it's delivered in one spot and we can push it in any format to anyone in the organization who needs it," Alvarez says. "We provide a channel for their products to get to clients. It's easier than dumping a raw datafeed in their laps."

Typical users would be business analysts or application developers in accounting departments looking for access to data on historical settlement and pricing issues, Alvarez says. Users can access the data via spreadsheets or a variety of front-end tools, including TAP's CAViewer.

Max Bowie