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Interactive Data To Buy 7ticks

December 15, 2009 (FinancialWire) — Interactive Data Corp. (NYSE: IDC), a provider of financial market data, analytics and related solutions, said it has signed an agreement to acquire 7ticks, LLC, a provider of electronic trading networks and managed services.

The transaction is scheduled to be completed in early 2010, contingent upon closing conditions.

Interactive Data said the acquisition represents an important element of its strategy to address the latency sensitive trading needs of its institutional customers. It said that acquiring 7ticks will accelerate Interactive Data’s plans to increase the flexibility, agility and resiliency of its network infrastructure, thereby supporting a broader range of high-quality direct exchange access and consolidated datafeed services.

7ticks specializes in providing a base of proprietary trading groups, clearing firms, global investment banks, brokers, market makers, hedge funds and independent software vendors with direct exchange access, proximity hosting, and support services for facilitating ultra low latency electronic trading of North American derivatives, options and commodities securities.

Interactive Data is a provider of financial market data, analytics and related solutions to financial institutions, active traders and individual investors.

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