25October10_IMD25Years.indd 1 19/10/10 11:51:04 the power to illuminate the financial world INTERACTIVE DATA provides global mission-critical financial information and analytics . empowering you to achieve maximum efficiency across your organization when: n Valuing complex securities and portfolios n Capitalizing on new investment opportunities n Executing trades in less than a millisecond n Complying with regulations n Assessing risk exposure n Making informed investment decisions For more information go to www.interactivedata.com or contact +1 877 462 3843 (North America), +44 (0)20 7825 7800 (Europe), +61 3 9249 2000 (Asia Pacific), or email
[email protected]. Interactive Data: Bringing insight to the financial markets EVALUATIONS PRICING AND FIXED INCOME TRADING INFRASTRUCTURE REAL-TIME WEB-BASED DESKTOP REFERENCE DATA ANALYTICS SERVICES MARKET DATA SOLUTIONS SOLUTIONS Untitled-1 1 07/10/2010 11:42 LETTER FROM THE EDITOR 25 Years of Innovation any people reading this will not have spent 25 years working in the market data industry—or reading Inside Market Data for so long, which began publishing a Mquarter-century ago as Micro Ticker Report. But one doesn’t need to have been directly involved in the industry since the mid-1980s to appreciate that there exists a core group of people who—through their ability to create new products, inspire action in others, or take it upon themselves to effect change—have contributed to making the industry what it is today. So, to mark Inside Market Data’s 25th anniversary, we honor the builders, the leaders and the organizers who made a profound difference to our industry over the past 25 years.