S&P Capital IQ, a provider of multi-asset class research, data and analytics, has entered into a long-term, strategic agreement with Tullett Prebon Information (TPI), part of Tullett Prebon, one of the world’s largest inter-dealer brokers.
The deal covers broad use rights across all business units and divisions of S&P Capital IQ’s parent company, McGraw Hill Financial (MHFI), including S&P Capital IQ, Standard & Poor’s Ratings Services, S&P Dow Jones Indices and Platts. The terms provide for expansive use and redistribution of TPI data by MHFI companies.
Historically, TPI has been a provider of OTC inter-dealer broker data to S&P Capital IQ, an important component for the firm’s securities valuations and pricing businesses. As S&P Capital IQ has grown and acquired and integrated other businesses, including R2 Financial Technologies, QuantHouse and CMA in 2012, company leaders recognised the need to expand licensing of TPI products within the organisation to broaden the scope of TPI data use. Under the new agreement, all MHFI companies can now use numerous TPI datasets in a variety of ways, both internally and externally, to develop and sell new products to the financial markets.
In addition to extending the scope of use and distribution rights of many TPI datasets within MHFI, the agreement also allows for the creation of derivative works and redistribution. Among data sets included are interest rate swaps, USD muni swaps, cross-currency swaps, forward rate agreements, government bond data, government benchmark bills, mortgage backed securities, spot foreign exchange, and more. The distribution rights also enable S&P Capital IQ to make TPI data available to meet growing demand from customers for application usage of data.
“We are pleased to broaden our relationship with S&P Capital IQ as a new distribution channel for a broad spectrum of our data products,” says Frank Desmond, managing director, TPI. “S&P Capital IQ’s established presence in the global marketplace will enable a whole new audience to draw on TPI’s high quality and comprehensive content through a variety of applications.”
“As we expand our products and services within S&P Capital IQ and across McGraw Hill Financial, TPI data presents an opportunity for us to offer an even broader set of high quality content to our clients via many different delivery mediums, including desktops, mobile applications, APIs and datafeeds,” says Jonathan Reeve, executive managing director, S&P Capital IQ.