First Call Signs Agreements To Distribute Equity Research Via Track Data, Telerate

First Call Corp. is broadening its channels of distribution and is considering expanding its research service into other markets besides equities.

Based in Boston, First Call is jointly owned by Technical Data International and 11 of the 19 brokerage firms that contribute equity research, morning meeting notes and other intra-day announcements to the real-time service.

Until recently, a firm that wanted to receive First Call needed a dedicated personal computer equipped with a printer. However, the company recently began distributing its service over Track Data Corp.'s network and plans to do the same with Telerate Inc.'s database services network.

Track Data customers can access First Call on Track Data's MX-386 or MarkeTrack services while Telerate subscribers will receive First Call through Telerate's Multiport terminal or through intelligent workstations. First Call will not be available through standard Telerate network products.

Henry Becher, senior vice president of Telerate's Americas Group, says distributing First Call "is a significant step in Telerate's goal to offer a comprehensive, worldwide equities service."

Josephine Ottman, director of marketing at First Call, says the company is talking with other vendors in an effort to make the service "as widely available as possible."

Ottman declined to comment whether the agreement with Telerate, a leading provider of government securities prices, might prompt First Call to add fixed-income research to its service.

Within the equity market, First Call is increasing the amount of information it delivers and making it more easily accessible, she says. For instance, the company plans to add "tear sheets" providing a snapshot of fundamental data for each company.

About 400 firms receive First Call on a dedicated PC and most have only one unit. The PC-based version of First Call costs $2250 a month and provides subscribers with 45 days of research, earnings estimates and the ability to create portfolios.

The version of First Call that is being distributed by Track Data and Telerate offers less functionality and therefore costs less. Customers that receive First Call via Track Data Corp. and Telerate pay $500 a month for the first terminal, $250 for the second and $150 for the third.

Firms that also subscribe to the PC-based version of First Call pay $150 a month per terminal to receive the service through Track or Telerate.

Users who access First Call through Track Data or Telerate may retrieve up to seven days' worth of research. They do not receive earnings estimates and cannot monitor portfolios.