QuoteMedia, Inc. (QMCI.OB), a provider of market data and financial applications, announced in summer of last year that it has entered into an enterprise agreement with Penson Worldwide, Inc. (PNSN), a provider of flexible technology-based solutions to the investment industry.
Previous to this agreement, QuoteMedia had a well established relationship with Penson, and was providing a wide array of services to Penson's clients through its subsidiary, Nexa Technologies. However, the new agreement 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, choose to incorporate QuoteMedia’s solutions for all of their clients is pretty significant.
Daniel Son, President of Penson, stated, 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.
QuoteMedia is now providing a number of services that Penson has incorporated 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 Quotestreamâ„¢ Professional, Quotestream Wireless, and QuoteMedia's streaming real-time portfolio management systems to financial advisors and brokers, and Quotestreamâ„¢ II to non-professionals.
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