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                                                                  Exhibit 10.20


                AMENDMENT NO. 2 TO MANAGEMENT SERVICES AGREEMENT


      FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which
are hereby acknowledged, the Management Services Agreement ("MSA") dated
November 29, 2001, effective as of February 29, 2000, between PEARSON PLC and
INTERACTIVE DATA CORPORATION, as amended, is hereby further amended effective as
of September 16, 2004, (the "Effective Date"), by:

      (i)   deleting Schedules 18, 22, 28, 29, 30, 33, 35, and 36; and

      (ii)  adding Schedules 38, 39 and 40, copies of which are attached hereto
            and made a part hereof.

      This Amendment shall be subject to all of the terms and conditions of the
MSA. Except as hereby amended, the MSA is in all other respects ratified and
confirmed.

      IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment
as of the Effective Date.


                                       PEARSON PLC


                                       By:
                                          ---------------------------------
                                          Name:
                                          Title:


                                       INTERACTIVE DATA
                                         CORPORATION


                                       By:
                                          ---------------------------------
                                          Name:
                                          Title:
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                                   SCHEDULE 38

                            FUND MANAGEMENT SERVICES

Service Provider:    FT Interactive Data (Europe) Limited (`FTID')


Service Recipient:   The Financial Times Limited (the `Financial Times')


Service              In order to allow the Financial Times to compile certain
Description:         pages of The Financial Times newspaper (the `Fund
                     Management Services'), FTID provides data collection
                     expertise and delivery services for fund and related data
                     sets (the `Fund Data').

                     FTID receives some of the Fund Data from the Financial
                     Times Fund Management Services subscribers.



Primary Contacts     Services Manager
(Relationship        FT Interactive Data (Europe) Limited
Managers):           Fitzroy House, Epworth Street, London EC2A 4DL

                     IT Service Manager
                     The Financial Times Limited
                     Number 1 Southwark Bridge, London SE1 9HL

Fees:                13,026 GBP per year, payable by the Financial Times to FTID


Service Period:      Commencing February 29, 2000 and continuing thereafter
                     until such time as the service is terminated in accordance
                     with the terms of the MSA.



Notice Period for    360 days
Termination:
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                                   SCHEDULE 39

                              FTID PRODUCT SERVICES

Service Provider:    FT Interactive Data (Europe) Limited (`FTID')


Service Recipient:   The Financial Times Limited (the `Financial Times')


Service              Following the transfer of the personnel specified in
Description:         Appendix V from FTID to the Financial Times which occurred
                     on 1 July 2003, FTID will provide data and delivery
                     services via various FTID products as specified in Appendix
                     I hereto (the `Products') in order to allow the Financial
                     Times internal use of the data including the compilation
                     and publication of certain pages of The Financial Times
                     newspaper (the `Statistics Services').

                     The Products are subject to all the additional terms
                     specified in the attached Addendum together with any agreed
                     procedures and performance levels specified herein.


Primary Contacts     Derek Fitches
(Relationship        Services Manager
Managers):           FTID
                     Fitzroy House, Epworth Street, London EC2A 4DL

                     Graham Jackson
                     IT Service Manager
                     The Financial Times
                     Number 1 Southwark Bridge, London SE1 9HL


Fees:                440,000 GBP pa payable by the Service Recipient


Initial Service      Commencing 01 July 2003 and continuing for a period of
Period:              three years at which time if this Amendment shall still be
                     in effect, it shall renew automatically and continue for
                     further periods of one year each unless terminated by
                     either party in accordance with the Notice Period below.


Notice Period for    At least 360 days notice in writing at any time
Termination:         after 31 December 2005.
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                                   SCHEDULE 40

                                FINSTAT SERVICES

Service Provider:    The Financial Times Limited (the `Financial Times')

Service Recipient:   FT Interactive Data (Europe) Limited (`FTID')

Service              FINSTAT Services are a range of computer readable data
Description:         feeds to provide an automatic updating service for
                     financial software applications. The data is available in
                     specific feeds that cover equities, currencies, indices,
                     dividends and events, and are available daily, weekly or
                     monthly.

                     FTID wishes to receive a series of compiled data feeds to
                     FTID specifications in terms of content and delivery times
                     from the Financial Times. These feeds make up the FINSTAT
                     Services that are the subject of this Licence ("Services").

                     In the attached Addendum, agreed procedures and performance
                     levels are specified together with details of the FINSTAT
                     Services.

Licence:             Financial Times hereby grants to FTID an exclusive licence
                     to commercially exploit the Services in whatever manner
                     FTID chooses, such licence only to terminate in accordance
                     with the provisions and the Special Conditions below.
                     Notwithstanding the above, the parties acknowledge and
                     agree that the Financial Times shall be entitled to use the
                     Services for their own [internal] purposes free of charge.

Primary Contacts     Derek Fitches
(Relationship        Services Manager
Managers):           FTID
                     Fitzroy House, Epworth Street, London EC2A 4DL

                     Graham Jackson
                     IT Service Manager
                     The Financial Times
                     Number 1 Southwark Bridge, London SE1 9HL (full details
                     name, telephone numbers and so forth in Addendum)

Fees:                440,000 GBP per annum (for the Licence and the Service
                     provision) payable by the Service Recipient

Initial Service      Commencing 01 July 2003 and subject to Special Condition 2
Period:              below, continuing for a period of three years at which time
                     if this
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                     Amendment shall still be in effect, it shall renew
                     automatically and continue for further periods of one year
                     each unless terminated by either party in accordance with
                     the Notice Period below.

Notice Period for    Subject to Special Condition 2 below, at least 360 days
Termination:         notice in writing at any time after 31 December 2005.

Special Conditions   1. Until the equipment on which the Service is currently
                     produced is replaced with more robust new equipment, the
                     parties agree that any failure in such equipment shall be
                     deemed a force majeure event and shall not give rise to any
                     liability on the part of the Financial Times. However, in
                     the event of such equipment failure, the Financial Times
                     shall use commercially reasonable endeavours to recover
                     such equipment as soon as possible. In the event that the
                     Financial Times is unable to recover the equipment within
                     10 working days the parties acknowledge and agree that FTID
                     shall not be liable to pay the Fees hereunder or on a pro
                     rata basis in respect of any further period in which the
                     equipment remains unavailable and it is further
                     acknowledged and agreed that if the equipment remains
                     unavailable for more than [ ]20 consecutive working days in
                     aggregate FTID either party may terminate this Schedule and
                     Licence immediately by giving written notice to the
                     Financial Times other party.

                     2. In the event that the Financial Times wishes to
                     substantially modify the format of the Service it shall
                     provide to FTID comprehensive written technical
                     specifications of the proposed modified format and/or a
                     working prototype of same at least seven months before the
                     proposed implementation date. FTID shall have 30 days from
                     delivery of such specifications and/or prototype to either
                     accept or decline the proposed modification in writing. In
                     the event that FTID accepts the proposed modification, the
                     Financial Times shall ensure that the actual modification
                     when implemented substantially conforms to the
                     specifications and/or prototype previously supplied. In the
                     event that FTID rejects the proposed modification, the FT
                     Financial Times shall continue to supply the Service in the
                     current (unmodified) format for a further six months at
                     which point this Schedule 40 and the licence to use the
                     Services shall automatically terminate.