Internet Financial Network Partners with Merrill Lynch to Offer Soft Dollar Investment Research Services

Strategic Insights -

The Internet Financial Network, Inc. (IFN) has announced a partnership with the Citation Group, a Soft Dollar Brokerage unit of Merrill Lynch, to provide investment research and news services to Merrill Lynch's Citation clients through the InfoGate platform. The partnership aims to offer a range of investment-related products and services, including research, news, market data, and consulting services, to clients through the platform.

Key Takeaways:

  • The partnership between IFN and Merrill Lynch's Citation Group will provide soft dollar clients with access to investment research, news, and other services through the InfoGate platform.
  • InfoGate is a software platform that will deliver hundreds of sources of news and information to its users, with the number of content providers expected to increase geometrically during 1998.
  • The initial content providers for InfoGate will include American Banker, The Associated Press, CDA/Investnet, COMLINE, Comtex Scientific Corporation, First Call Corporation, Investext, Net Earnings, Phillips Business Information, Securities Data Company, and Standard & Poor's.
  • IFN's products also include EdgarWatch, Instant News, Smart Edgar, and Smart Edgar News, a delayed news service similar to Instant News, which is available on Lycos StockFind.
  • The Travelers Insurance Company and Data Broadcasting Corporation hold a controlling equity interest in IFN.

Statistics:

  • InfoGate will have hundreds of sources of news and information available to its users, with the number expected to increase geometrically during 1998.
  • IFN was founded in 1994 and has offices in New York City and Ft. Lauderdale, FL.
  • The company's products, including EdgarWatch, Instant News, Smart Edgar, and Smart Edgar News, will be available on multiple platforms, including Lycos StockFind.

Sources:

  • PR Newswire story, "Internet Financial Network, Inc. and The Citation Group of Merrill Lynch Announce Agreement to Provide Investment Research and News Services", June 8, 1998
  • Internet Financial Network, Inc. (IFN) press release, dated June 8, 1998.