NIKKEI, DOW JONES AND QUICK FORGE STRATEGIC ALLIANCE IN FINANCIAL INFORMATION SERVICES
Tokyo, April 10, - Nihon Keizai Shimbun Inc. (Nikkei), Dow Jones & Company and QUICK Corp. today announced a broad-based strategic alliance for equities that includes the joint creation of new financial news services to be distributed electronically, an exchange of real-time, historical and fundamental data from around the world, and plans to collaborate on future business initiatives. The first jointly produced products will be released as early as September.
This unprecedented alliance of leading financial news organizations, which also features K.K. Kyodo News, a long-time valued partner of Dow Jones, creates Japan's largest and most comprehensive source of financial information, which is vital in the rapidly changing world of the financial services industry. Services and shared data from this alliance will be offered exclusively through Nikkei/QUICK and Dow Jones/Kyodo, in and outside Japan.
Takuhiko Tsuruta, president and chief executive officer, Nihon Keizai Shimbun, Inc., commented: "The alliance between the Nikkei Group and Dow Jones will integrate the news gathering networks of both our companies in the area of real-time news delivery through electronic media. This will dramatically enhance the quality of news stories delivered and also strengthen the simultaneous news transmission setup of the two companies in both Japanese and English.
"The Nikkei Group aims to develop a global news service integrating real-time news feed with database resources. The alliance marks an important milestone in achieving our goal."
"Our alliance with Nikkei/QUICK further strengthens Dow Jones' position as a global provider of equities information and analysis," said Kenneth L. Burenga, president of Dow Jones. (EDITORS: Late last year, Dow Jones forged a similar alliance with Primark Corporation to develop the Primark/Dow Jones Equity Service to serve traders and investors throughout Europe.) "Dow Jones is committed to becoming a full-service provider of news, information and services in all market segments-equities, fixed income, foreign exchange, commodities and energy. A key component in this strategy is forging alliances with information sources such as Nikkei/QUICK."
Tetsuo Ohta, president and chief executive officer of QUICK, commented: "Under this alliance QUICK can enhance financial news and market information outside Japan, which will help us meet the requirements of our clients in the midst of globalization and diversification of asset allocation. In the future, QUICK will further enhance the relationship with Dow Jones."
Under this alliance, Nikkei/QUICK and Dow Jones will combine their Japan newsroom operations under joint editorial direction. The combined newsroom will produce a news service covering the Japanese financial markets focusing on equities. The Japanese language version of the combined service will be called the Nikkei/Dow Jones News Service. The English language version will be called the Dow Jones/Nikkei News Service. Both versions will be able to draw on news provided through Dow Jones' longstanding partnership with the Associated Press.
The companies also plan to share each other's news feeds for global distribution. Nikkei/QUICK will distribute Japanese language translations of the AP-Dow Jones Financial Wire. Dow Jones/Kyodo will distribute Japanese-language Nikkei/QUICK news. Under the terms of the alliance agreement, Dow Jones/Kyodo and Nikkei/QUICK can create their own historical news and price data warehouses using each other's information.
Technology teams from the companies are working to ensure that the information sharing will be seamless across all of the companies' delivery platforms. Customers using Dow Jones Workstations will be able access and manipulate Nikkei/QUICK information. Likewise, users of QUICK terminals will be able to access and manipulate Dow Jones data and applications.
The alliance also includes plans for the companies to share their extensive prices, indices, fundamental data and analytic tools to give their customers optional access to an increasing range of data from around the world.
Earlier this year, Dow Jones announced a multi-year investment program to expand content and services for all market segments and to enhance its delivery systems and presentation technologies using standard Internet technologies.
Nihon Keizai Shimbun, Inc. (Nikkei) is one of the largest providers of business information in the world, with activities including newspaper publishing, on-line information services, broadcasting and book and magazine publishing. Its flagship daily newspaper, the Nihon Keizai Shimbun, has the world's largest circulation for a business newspaper of more than 3 million copies. Nikkei's Databank and Multimedia Bureaus offer real time on-line news and retrieval services through the internationally linked "Nikkei Telecom 21" and "Nikkei Net."
QUICK Corp., as a leading electronic media company of the Nikkei Group, provides financial news and market information in Japan and Asia, decision-support applications, trading room systems and communications services. Its main product is QUICK-IS, an open system service which provides financial news, market information and other value-added services on the industrial standard client PC platform via an Internet-protocol network.
Dow Jones is a leading global provider of news and market information, decision-support applications, trading-room systems and transaction services for financial institutions. Dow Jones also publishes The Wall Street Journal, the Asian Wall Street Journal, Far Eastern Economic Review, other business periodicals, the Dow Jones Newswires including Asian Equities Report and community newspapers, and produces business television programming including Asia Business News (ABN). Dow Jones Interactive Publishing, the electronic publishing arm, provides business and financial news and information services, including The Wall Street Journal Interactive Edition on the World Wide Web and Dow Jones News/Retrieval.
K.K. Kyodo News is a business arm of Kyodo News, which is Japan's premier news agency. K.K. Kyodo has a longstanding partnership with Dow Jones, including Dow Jones Markets, AP-Dow Jones News Services and Dow Jones News/Retrieval.
Advisory to editors:
UNS does not warrant or make any representations regarding the correctness, accuracy or reliability of the contents of the press release. Under no circumstances shall UNS be liable for damages resulting from the use of information contained in the press release. All facts should be independently checked.
Get content for your website
Enhance your website's or blog's content with PR Newswire's customised real-time news feeds.
Contact PR Newswire
Send us an email at MarketingUK@prnewswire.co.uk or call us at +44 (0)20 7454 5382
Become a PR Newswire client
Request more information about PR Newswire products & services or call us at +44 (0)20 7454 5382