22-Jan-02
DSTi have acquired the shared intellectual property rights to the intelligent Market Data Interface, iMDI, developed by Odyssey as a generic market data interfacing solution to support investment operations in the collection, validation and dissemination of market data.
Christian Bower, Odyssey UKMEA Sales Manager, states, “Odyssey’s release of iMDI in 2000 was the resulting combination of everything we have learnt and built over 10 years of providing market data solutions. Odyssey worked with data vendors, our own portfolio management business analysts and industry practitioners to create a black box data interface which is compatible with most data sources and which can feed any data consuming application with information checked against user determined quality legislation. iMDI allows significant gains to be made by securities firms when they re-evaluate their data quality strategies. There are already over 30 implementations in Europe.”
Roland Jones, Odyssey UKMEA Branch Manager, explaining why Odyssey has opted to market iMDI to other banking systems suppliers, states that, “iMDI was designed from day one to be the industry standard solution for data interfacing, which requires the cooperation of all banking systems companies. The systems suppliers benefit, of course, from acquiring a best-of-breed data interface which adds value to their overall offering, resolves legacy data problems, provides an additional revenue stream and, because iMDI is already compatible with all the major data feeds, reduces pressure on already over stretched developers.”
DST has demonstrated tremendous vision in seizing the opportunity to be the first to adopt iMDI and partner Odyssey in their iMDI channel initiative. The nature of the technology transfer means that DST are well placed to market, implement and support their version of iMDI branded HiData. At the same time they are helping to establish a much- needed standard in data interfacing. Friends Ivory & Sime are already benefiting from improved efficiency in data management and data checking through their use of the application with HiPortfolio.
About DST International
With 14 offices in five continents, DST International provides a unique and comprehensive range of investment management and work management software solutions to over 500 clients in 40 countries. The parent company, DST Systems Inc, services nearly 8,000 mutual funds and over 72 million accounts with 2000 revenues of $1.39 billion. It was awarded the 1999 Bain Award for Strategy excellence.