BRIEF TRANSMISSIONS
BRIEF TRANSMISSIONS
Knight-Ridder Inc.
has discussed the sale of Knight-Ridder Financial with Telerate’s parent Dow Jones, with Reuters and with WCAS, the new parent of Bridge Information Systems, sources told D&IS sister publication Inside Market Data. IMD also reports that the prospect of a sale of Knight-Ridder has been the subject of much talk, and some skepticism, in the market data industry, ever since Knight-Ridder opted not to replace the president of its Business Information Service unit, which includes the K-R Financial business. One analyst says that Knight-Ridder "wanted Business Services to be 15 to 20 percent of corporate operating income." She adds that: "Last year it was five percent." But Knight-Ridder chief executive Tony Ridder told IMD that the talk of a pending sale is "absolutely untrue." He also says: "We have no interest in selling Knight-Ridder Financial."More acquisition fever: London-based derivative software vendor Independent Treasury Services (ITS) is up for sale, sources told Derivatives Engineering & Technology. ITS developed and markets Axiom, the Unix-based interest-rate derivative trading and risk-management software used by Fuji Bank, Mitsubishi Bank and Commerzbank, among others. The vendor has turned a profit since its fiscal 1993—although not a very large one, according to the accounts the company is required by U.K. law to file. These figures show that ITS turned an operating profit in its fiscal 1993 of £14,672 ($9,287) on revenues of £247,710 ($156,800), for a margin of about six percent. The following fiscal year, ended June 1994, ITS’ operating profit was £38,380 ($24,295) on sales of £531,175 ($336,233), reflecting an operating profit margin that grew to the still-modest seven percent.
Banque Paribas’
New York office has bought FNX’s energy derivatives trading system. Under the deal, FNX will adapt its system to support Paribas’ business of trading and creating complex energy-related instruments.Reuters
has launched a Chinese-language version of its Reuter Business Briefing (RBB) news retrieval service. The English language RBB and the Reuter Chinese Business Briefing (CBB) both allow users to access a database of five years of news stories from newspapers, magazines and news wires. The stories are sourced from a wide variety of information providers, including of course Reuters. The Microsoft Windows-based CBB application allows users to choose the language in which they would like to view stories. It supports news filtering and searches, based on a variety of user-defined parameters.Reuters
has also licensed an electronic research document distribution system from the system’s U.S.-based developer, Multex Systems. It’s unclear when Reuters customers in Asia and Australia might be able to access Multex’ full-text research reports electronically. Bloomberg also signed late last year to carry the Multex service, called Multex Publisher (Inside Market Data, Nov. 7, 1994). The service is built around the Acrobat document management software from U.S. software company Adobe Systems. A key obstacle to Multex’s growth has been its ability to sign up contributing brokers, many of whom hold stakes in Multex rival Thomson-owned First Call. As an incentive, Multex in the U.S. lets brokers put research on its network on a nonexclusive basis, at no charge. It’s unclear whether Reuters will offer the same inducement.Telekurs
last week outlined a new international symbology aimed at making it easier to identify securities traded in multiple markets. Although some might question whether the world needs yet another symbology for securities, Telekurs has based its systems on mnemonic codes and symbols to make the system easier to learn and remember. A key feature of the new symbology is that the codes provide descriptive information about the type of security in question. For example, an option’s code includes expiration month, year and strike price, as well as a code indicating the issuer. Because it uses the same root code for all securities derived from a single underlying security, the symbology could make life easier for investors and dealers seeking information about all derivatives based on a given security. Telekurs has made the symbology available as part of its Ticker service, a high-bandwidth digital data feed of real-time and pricing data.Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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