QUODD and IHS Markit Form Strategic Partnership to Serve the Trust and Wealth Management Markets

JERSEY CITY, N.J., Nov. 10, 2020 /PRNewswire/ -- QUODD Financial Information Services ("QUODD"), a business unit of Financeware, a NewSpring Holdings platform company, and IHS Markit have formed a strategic partnership to provide a unique market data offering for the Trust and Wealth Management sector. The offering combines QUODD's 20 years of expertise in listed market data and delivery with IHS Markit's industry leading fixed income pricing and reference data in an integrated, flexible delivery platform.

"Customers were repeatedly asking for alternatives as vendors consolidated, service levels decreased and costs increased," said Bob Ward, CEO of QUODD. "Our partnership with IHS Markit enables us to deliver our clients data from a single source via flexible formats at a significantly lower total cost of ownership.  By enabling great transparency and finger-tip access to market data through modern technology our clients are better positioned to compete and differentiate themselves."

The offering combines global listed market pricing, dividends and corporate actions along with IHS Markit's comprehensive global fixed income pricing and reference data. IHS Markit is QUODD's exclusive provider of fixed income pricing and reference data for the Trust and Wealth Management space.

"Our partnership with QUODD aligns with our vision of providing the most innovative, robust and scalable solutions for financial institutions," said Ed Chidsey, SVP and Global Head of Financial Information Services at IHS Markit. "We are proud to be QUODD's exclusive fixed income data provider, as our best-in-class pricing and reference data delivers actionable intelligence that can enable a competitive advantage for Trust and Wealth Management firms."

According to Subir Chatterjee, CEO of Fi-Tek LLC, provider of the market-leading Global Wealth Enterprise Solution (Global WealthES®), a front to back technology platform for the Investment Management, Trust, and Wealth Management markets, "Working with QUODD and IHS Markit has empowered our firm with a more flexible commercial securities pricing framework to manage overall cost, as well as provide a higher degree of predictability and transparency for our clients. Our clients simultaneously benefit from reliable, quality market data and modern digital tools for their back, middle, and front offices.

The partnership with IHS Markit has been instrumental for QUODD's bank trust, RIAs, and brokerage customers. QUODD is committed to providing clients a high-quality, low latency alternative in an industry where costs have sky-rocketed and service levels have deteriorated. For more information please visit QUODD.com.

About QUODD
QUODD Financial Information Services, a portfolio company of Financeware, provides streaming data solutions as well as comprehensive end-of-day pricing, reference and corporate actions solutions to the global fintech, wealth, investment management, and retirement market. These solutions include seamlessly integrated global listed pricing, dividends and corporate actions content. Financeware is an industry-leading fintech platform company focused on delivering a robust suite of innovative solutions to the financial services market.  The company's set of broad capabilities span financial market data, wealth management workflow processing, and tech-enabled RIA services. Established by NewSpring Holdings in 2018, Financeware combines the rich competencies and market leadership of its three businesses QUODD, VMS and Wealthcare and leverages go-to-market and operational synergies across the platform.  Learn more at www.financeware.com

About NewSpring Holdings
NewSpring Holdings, NewSpring's dedicated holding company with a strategy focused on control buyouts and platform builds, brings a wealth of knowledge, experience, and resources to take profitable, growing companies to the next level through acquisitions and proven organic methodologies. Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages approximately $2 billion across four distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. Visit NewSpring at www.newspringcapital.com.

About IHS Markit
IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world's leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.

About Fi-Tek, LLC
With over 350 professionals, Fi-Tek is a leading provider of technology and technology-enabled solutions to wealth management, global family office, hedge fund, & private equity organizations.  Diverse domestic and international financial institutions, including Asset Managers, Trust Institutions and Global Private Banks, Family Offices, Hedge Fund Managers, Fund Administrators, and Broker/Dealers, service over $1.4 trillion dollars of assets on Fi-Tek's suite of Private Wealth Technology Solutions consisting of Global Wealth ES, Rockit Command, and HedgeTek platforms. Fi-Tek also offers full-service outsourcing services to over 200 family offices and trust & wealth management banks around the country. Additional information on Fi-Tek and its solutions may be found at www.fi-tek.com.

SOURCE Financeware