QuoteMedia, Inc. (QMCI.OB), a provider of market data and financial applications, is pleased to announce that it has entered into an enterprise agreement with Penson Worldwide, Inc. (PNSN), a provider of flexible technology-based solutions to the investment industry.
“With QuoteMedia’s technologies in place, we are able to expand our financial data content to provide more in-depth market information that our clients and their customers require,” stated Daniel Son, President of Penson.
QuoteMedia will provide a number of services that Penson will incorporate into its platforms, which are utilized by almost 300 correspondent financial services firms for their brokers, financial advisors, and retail brokerage customers. Some of the services include raw quote and research data through QuoteMedia’s DataFeed solutions with an array of content and research products. The agreement allows Penson to offers its clients a number of the QuoteMedia services, including Quotestream™ Professional, Quotestream Wireless, and QuoteMedia’s streaming real-time portfolio management systems to financial advisors and brokers, and Quotestream™ II to non-professionals.
Son continued by saying, “In order to maintain and improve our competitive position, it is vital that we continue to provide our clients with unmatched customer service and technological excellence. By incorporating QuoteMedia’s market solutions into our new and existing offerings, we are able to go an extra step in creating a more robust and dynamic offering for our clients.”
“This Agreement likely represents the largest deployment of QuoteMedia’s services in our company’s history,” according to Dave Shworon, CEO of QuoteMedia. “We already have a well established relationship with Penson, as we have been providing a wide array of services to Penson’s clients through its subsidiary, Nexa Technologies. This new agreement, however, is expansive in its scope and in the degree of integration involved. To have a company like Penson, which has a well known reputation for technological superiority and an intimate knowledge of our products, choose to incorporate our solutions for all of their clients is a gratifying validation of our company.”
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