ADP/ISS to Redistribute Internet Financial Network's "Instant News" Service.NEW YORK--(BUSINESS WIRE)--June 24, 1997--Automatic Data Processing's (NYSE NYSE See: New York Stock Exchange : AUD AUD In currencies, this is the abbreviation for the Australian Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) Investment Software Systems (ADP/ISS) division announced today that it will carry Internet Financial Network's (IFN's) Instant News service. IFN's Instant News product extracts critical information from corporate documents filed with the Securities and Exchange Commission (SEC) and distributes an automated news feed within seconds of public release. Potentially market-moving news about mergers and acquisitions, securities offerings, corporate financial performance, executive compensation and other corporate events will be available to ADP/ISS subscribers in unprecedented time. IFN's Instant News product tracks all public companies, regardless of size. The intelligent software created by IFN IFN abbr. interferon IFN interferon. IFN Interferon, see there also allows complete depth of coverage so that all merger and acquisition transactions can be reported immediately. "Instant News redefines the meaning of real-time news," said Clifford Boro, IFN's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "It automatically performs the tasks of excerpting, condensing con·dense v. con·densed, con·dens·ing, con·dens·es v.tr. 1. To reduce the volume or compass of. 2. To make more concise; abridge or shorten. 3. Physics a. , and distributing the often market-sensitive information contained in the SEC's Electronic Data Gathering Analysis Retrieval (EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king. ) files." "We are delighted to add IFN's Instant News to our News Partner offerings," said Carl Tarabelli, president of ADP/ISS. "News Partner was developed to solve the real-time information needs of financial professionals. Instant News enhances the value of News Partner through its unique real-time content." Internet Financial Network, Inc. (www.ifn.com) was founded in 1994. Its principal investors are Data Broadcasting Corporation (DBC See dBA. (language, parallel) DBC - A data-parallel bit-serial C based on MPL. SRC, Bowie MD. E-mail: <maya@super.org>. ), the world's leading real-time market data provider to individual investors, and The Travelers Group, the parent of Smith Barney and a leading provider of insurance and financial services. IFN's principle products include EdgarWatch, a 32-bit Windows program that utilizes push technology on the Internet to provide continuous real-time filing information; SmartEdgar, a leading web-based program designed to deliver the same information anytime, anywhere and on any platform, and Instant News, a continuously updated database of real-time news stories that is currently being offered on a tiered subscription basis over EdgarWatch. Investment Software Systems, a unit of ADP (1) (Automatic Data Processing) Synonymous with data processing (DP), electronic data processing (EDP) and information processing. (2) (Automatic Data Processing, Inc., Roseland, NJ, www.adp. , is a software development firm specializing in the development and integration of real-time news processing systems for financial services firms. It provides full text searching and filtering of news stories, using natural language queries. With $4 billion in revenues, and over 400,000 clients, ADP is one of the largest independent computing services firms in the world. ADP Financial Information Services See Information Systems. , Inc. processes approximately 20 percent of all U.S. exchange listed transactions, and is the leading third-party provider of securities transaction services in the U.S. and Canada. CONTACT: ADP/Investment Software Systems Patrick Schena, Vice President, ADP/ISS 508/439-6702 Voice, 508/439-6799 Fax or Margaret Grisdela, Senior Vice President, News Internet Financial Network 954/321-6061 Voice, 954/321-6208 Fax |
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