LONDON, Sept. 28, 2010 (GLOBE NEWSWIRE) -- Flex Fuels Energy, Inc. ("Flex" or the "Company") (OTCBB:FXFL) notes the announcement below made today by its subsidiary, the WDX Organisation Ltd., and Interactive Data Corporation.
28th of September 2010, London: WDX Organisation Ltd., the owner and distributor of the real time Wocu™ world currency unit quotation, announces that Interactive Data Corporation (Interactive Data"), a leading provider of financial market data, analytics and related solutions, is incorporating the World Currency Unit (Wocu™) into its real-time market data services. Interactive Data will be the first data vendor to provide its global client base with access to the Wocu, which is designed to offer commercial trading benefits and help investors assess the performance of their investments by removing the issue of currency volatility.
The Wocu, created by WDX Organisation Ltd., is a standardized basket currency derivative quotation based on the real time exchange rates of the currency pairs of the world's top 20 nations as determined by IMF measures of GDP. The Wocu naturally takes into account changing economic power and commercial perception of currency values as an elegant, market driven solution to the need for a global reference currency.
According to the agreement with WDX, Interactive Data will calculate the exchange rates between the Wocu and leading currencies, and provide that information in real time via PlusFeedSM, its low-latency consolidated global datafeed. In addition, customers of Interactive Data Desktop Solutions will also be able to access this data. These offerings include PrimeTerminalSM, Interactive Data's customisable financial desktop solution, and eSignal® Pro, its global market data and analytics platform for broker-dealers, institutional traders and financial advisors.
Hilary London, general manager, Real-Time Markets, EMEA, Interactive Data, said: "Interactive Data has earned its position as a trusted provider of financial information in part by continually extending the depth and breadth of our coverage. This is precisely why we are making the Wocu available to our clients via our real-time market data services."
Michael King, managing director of WDX Organisation, added: "We are very pleased that Interactive Data will be incorporating the Wocu into PrimeTerminal, eSignal Pro and PlusFeed for delivery to its many clients around the world. Because, uniquely, WDX has weighted the Wocu's algorithm in line with the GDPs of the top 20 countries, it can offer practical advantages, such as reduced volatility and enhanced hedging and currency neutrality."
About Interactive Data Corporation
Interactive Data Corporation is a trusted leader in financial information. Thousands of financial institutions and active traders, as well as hundreds of software and service providers, subscribe to our fixed income evaluations, reference data, real-time market data, trading infrastructure services, fixed income analytics, desktop solutions and web-based solutions. Interactive Data's offerings support clients around the world with mission-critical functions, including portfolio valuation, regulatory compliance, risk management, electronic trading and wealth management. Interactive Data is headquartered in Bedford, Massachusetts and has over 2,400 employees in offices worldwide.
PlusFeed is available from Interactive Data Real-Time Services; PrimeTerminal is available from Interactive Data Managed Solutions; eSignal Pro is available from Interactive Data's eSignal division.
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About Flex Fuels Energy, Inc.
Flex has two majority owned UK subsidiaries: Bio-AMD (), a technology developer for medical diagnostic devices; and the WDX Organisation Ltd, the owner of the Wocu™, a global currency data reference source for application in financial markets. ().
To find out more about Flex Fuels Energy (OTCBB:FXFL), visit our website at .
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Statements in this news release that are not statements of historical fact are forward-looking statements, which are subject to certain risks and uncertainties. Forward-looking statements can often be identified by words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Actual results may differ materially from those expressed or implied by forward-looking statements due to a variety of factors that may or may not be foreseeable or within the reasonable control of the Company. Readers are cautioned not to place undue reliance on such forward-looking statements. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission, including without limitation under the caption "Risk Factors" in the Company's Annual Report on Form 10-K filed on March 22, 2010. Except as otherwise required by law, the Company disclaims any obligations or undertaking to publicly release any updates or revisions to any forward-looking statement contained in this news release to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
CONTACT: Flex Fuels Energy, Inc. Tom Barr, CEO +44 (0)8445 861 910