Telekurs Financial triples VDF delivery

Swiss market data vendor Telekurs Financial has begun distributing its valor data feed (VDF) three times each day to ensure that the three main global timezones each have access to the most up-to-date data.

VDF, previously delivered as an end-of-day batch of data, provides corporate actions and validations data required for back-office automation. The thrice-daily service began at the start of this month, following pilot tests at the end of last year. The timing of the deliveries is broken down roughly according to the Asia-Pacific, European and US timezones.

Telekurs Financial chief executive Eugen Niesper said the new delivery option has only a few clients at present, and that it is unlikely that all VDF users will choose to receive all three deliveries. This decision will be driven by whether a user’s business and portfolio is global or regional, he said.

But Beat Koch, chief executive of Telekurs France and Telekurs UK, said the back office is becoming increasingly demanding. "They want this data as soon as possible," he said. That pressure is only increasing as straight-through processing efforts advance and users face time pressures to settle trades due to impending new regulation such as the Basel II capital adequacy Accord.

Koch believes the industry will see a revolution in the back office during the next four years on a similar scale to the changes that led to the introduction of real-time feeds in the front office. "It’s important that financial institutions know their positions at the end of day and clear all transactions as soon as possible," he said.