FactSet, a provider of integrated financial information and analytical applications has launched the Open:FactSet Marketplace, a new online platform that offers both financial and alternative data.
This launch marks a significant milestone for FactSet’s fast-growing Content and Technology Solutions business, which provides core data feeds such as macro market and event-driven data in addition to proprietary datasets such as supply chain and geographic revenue exposure content.
From streaming real-time data to historical information, FactSet offers award-winning content through desktop, web, mobile and off-platform solutions. The Open:FactSet Marketplace reinforces FactSet’s commitment to providing clients with the best available data and leverages the company’s expertise in data integration to offer datasets that can be easily connected with proprietary models, algorithms, and systems. The new marketplace currently features 25 data feeds, including FactSet’s core content as well as alternative datasets such as satellite, sentiment, and environmental, social, and governance (ESG) data from third-party providers.
“The Open:FactSet Marketplace builds on FactSet’s strong data management and symbology capabilities and demonstrates the openness we need to develop as an industry,” says Phil Snow (pictured), CEO, FactSet. “Clients are increasingly looking for a competitive edge through data, and we are innovating to meet this growing demand.”
“It is difficult for clients to find and integrate the optimal alternative datasets,” says Rich Newman, SVP and Global Head of Content and Technology Solutions, FactSet. “This is the exact challenge we are addressing with the Open:FactSet Marketplace. Alternative data use will only accelerate from here; much of what we currently consider ‘alternative’ data won’t be alternative for long.”
Third-party data providers for the Open:FactSet Marketplace have been carefully selected by FactSet for data quality and integrity and include companies such as Alexandria, Estimize, Genscape, and RepRisk. New data feeds will be released throughout the year from both FactSet and additional providers who are expected to onboard in the coming months.
“FactSet’s scale and expertise make it an excellent springboard to bring our data to a broader audience,” says Leigh Drogen, CEO, Estimize. “The Company is also taking on the huge challenge of back-end connectivity. The team has been fantastic working with us to integrate our datasets before making them available on the Marketplace, which eliminates a huge industry pain point.”