Telerate’s New Buy-Side Product Bundles Data With Order Entry

NEW YORK--Bridge Information Systems’ Telerate arm has a new buy-side package called Telerate Plus Institutional and has offered it to the Citation Group, the institutional division of Merrill Lynch, which will pass it on to its own institutional customers.

The Telerate Plus Institutional product is a combination of comprehensive capital markets data with equities news from Bridge. The product also contains Telerate’s Athena charting functionality as well as spreadsheet linking and fundamental analysis on top of electronic order entry and routing.

The Telerate Plus Institutional product is a new addition to the Telerate suite of products, says Brian Decker, senior vice president of marketing. Launched just last week, the buy-side product gives Telerate the ability to expand its business interests further than the fixed-income markets, now being able to target the institutional market and the institutional investor.

In order to tap into this new sector, Telerate has enhanced the Telerate Plus service with the addition of an electronic order entry and routing facility, its Institutional Order Entry product. This enhancement means that the product can now be utilized as a trading and transaction service, making it more attractive to the institutional market.

The product is a broker-neutral system that links to a range of brokers, exchanges and crossing networks. Users can receive dynamic price updates, transmit orders, receive execution reports and cancel or replace orders on a real-time basis.

Bridge launched IOEX, an ActiveX application designed to run over IP networks, at this year’s Securities Industry Association show in New York (Trading Technology Week, June 26). The ActiveX version of IOE can be placed inside Internet browsers and independent order management systems and within Bridge and Telerate workstations.

This alliance with Telerate will allow the Citation Group to distribute Telerate Plus Institutional to its customer base along with a number of other, probably proprietary, products.

Decker tells Inside Market Data that the product will be marketed by the Citation Group and distributed to its clients on a soft-dollar basis.

The Citation Group is headed by Thomas Conigliaro, who says that Citation’s clients will benefit from the depth of market coverage and analytics offered by the new Telerate service. Conigliaro also praised the service’s functionality and reliable delivery. The Citation Group is a division of Merrill Lynch that was formed in 1985.