Microsoft Corp. has signed for PC Quote Inc. to provide securities news for the software giant's new on-line service.
PC Quote provides real-time securities quotes and financial news to several banks, brokerage firms, insurance companies, fund managers, and institutional and individual traders, as well as to more than 75% providers of on-line services.
Microsoft, based in Redmond, Wash., has enlisted many service companies such as PC Quote to provide content for the much-anticipated Microsoft Network. The on-line service will be launched this month in conjunction with the release of Windows 95, the new vesion of Microsoft's operating system.
Microsoft has be eyeing financial services as a key component of its on- line business. It is even said to be wooing banks and other financial institutions to become content providers on the Microsoft Network.
"Consumers are becoming increasingly interested in using on-line services to level the playing field, especially from an investment standpoint," said Louis J. Morgan, the chairman of PC Quote. "With the financial services we plan to introduce in the near future, users of the Microsoft Network will eventually have access to the same market information that is currently available only to investment professionals."
The Microsoft Network will compete with offerings from such companies as America Online, H&R Block Corp.'s Compuserve Inc., and Prodigy Services Co., a joint venture of International Business Machines Corp. and Sears- Roebuck Co.