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Digital Data Vendor TickerPlant To Shut News Business

TickerPlant Ltd, a financial news business owned by BSE listed Financial Technologies, which provided digital distribution of time sensitive stock market news and information through its MarketView platform and MarketViewMobile application, is closing its news business, report Mint and the Hindu BusinessLine. In a statement emailed to MediaNama, K. Shriram, VP (Marketing and Business Development) at the company, has said that the company will now take feeds from multiple external sources, including Dow Jones:

“TickerPlant Ltd., a digital data distribution service provider has undertaken an organization re-structuring to strengthen the product offering. As a part of this exercise, we are restructuring the news desk only.

The services of TickerPlant will continue uninterrupted with feeds from multiple sources including Dow Jones . Going forward, several new feeds would be provided on this platform making the service robust and customized to end user requirement.”

TickerPlant is an authorized vendors of stock exchanges (BSE, NSE, MCX, NCDEX). It provides raw data feeds, XML based stock and commodity price feeds, as well as digital feeds of live news, corporate information and charts to websites, TV Channels, SMS & WAP. According to annual reports filed by Financial Technologies, TickerPlant hasn’t been doing particularly well:

An unsolicited marketing email MediaNama had received from a company executive in December 2010 claimed that TickerPlant was providing stocks and commodity information to NDTVProfit.comEconomicTimes*, Paisa.com, among several others, and SMS and WAP services to Yahoo India, NDTV Convergence, ACL Wireless and Reliance Capital.

Note: We’re adding Financial Technologies to our earnings coverage. Interestingly – and we weren’t aware of this – mobile payments company Atom Technologies is a subsidiary of TickerPlant.

* Disclosure: Indiatimes is an advertiser with MediaNama

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