EDI launches Own Corporate Actions Service

Exchange Data International launches its own self-sourced UK Corporate Actions data and switches customers over from the previous redistributed service.

London, March 26th, 2007, Exchange Data International Limited (EDI), the premier provider of high-quality, accurate international securities data announces today it has built out its own UK content (corporate actions and dividends) that will not only more than match existing services to date, but will also offer additional product benefits. As a main competitive difference, EDI will not impose any restrictive distribution arrangements for data use. The service is now live and available.

Jonathan Bloch, CEO and founder of Exchange Data International said, ""We have been working on this proposition for some time now. We have no concerns in competing head to head with the existing player in this niche area as we are a focused and specialised provider of Corporate Actions data. Our service will be superior to their product, in particular for dual-listed and multi-listed stocks, for which we will provide information from multiple sources.

Bloch continues: “In addition, we are also adding a subscription-based service allowing users to view the Shareholder Circulars on which the underlying corporate actions data is based.”

Some noted competitive advantages are any customer that chooses Exchange Data International’s service will avoid risk of serious short and long-term consequences involving restrictions on further redistribution of data. EDI will continue to provide UK Corporate Actions data in the same format, containing the same fields and providing the same high quality, in-depth information they have come to expect from EDI.

In addition, EDI’s extensive experience in capturing Corporate Action announcements from over 150 overseas exchanges will thus prove invaluable as almost a third of all securities listed on the London Stock Exchange are foreign.

To prepare for this transition, EDI undertook a year-long review of the processes and procedures that are currently in place in providing the same services previously provided by the former provider to EDI’s customers. To ensure data quality, EDI has been advised by industry leaders involved in the production of UK Corporate Actions for more than 20 years.

In addition EDI has enhanced its UK Corporate Actions and Worldwide Corporate Actions products by adding additional data like Initial Public Offerings (IPOs) and by covering more events than compared to the other competition’s service.