Fidessa pioneers transparent market data pricing
London, 20th May 2004 - royalblue (LSE: RYB) today announced details of its revolutionary new commercial model for market-data provision through its Fidessa product suite.
Under this new model, Fidessa users will no longer pay for the application to view market data, instead they are able to pick and choose the data they want and simply pay the corresponding source cost - such as exchange fees. Royalblue then adds a fixed percentage 'carriage' fee to cover provision, display and support.
Commenting on the new model, Simon Barnby, business development manager at royalblue, says: "The clear message from our customers is that they want a pricing model for data that is transparent, flexible and scalable as well as being highly cost-effective. They have users with differing needs and this new solution accepts and accommodates that."
Traditionally vendors have charged a flat fee for products regardless of how much or how little of the data the user actually needs. This has led to over-pricing and inflexibility being inherent within the industry. "We have to accept that market data is no longer a premium service - it's a commodity and it needs to be priced as such," adds Barnby. "Our new pricing is totally open and transparent - which is exactly what the users want to see."
Fidessa currently supports access to real-time data from 21 markets across Europe and North America, coupled with associated data such as news, fundamentals, charts, etc. Corresponding exchange trading and order-routing capabilities, targeted at both the buy-side and the sell-side, are also fully integrated with this data.
The new pricing model will become effective from 1st August 2004.