FactSet Research Systems (NYSE:FDS), a global provider of financial information and analytical applications, has launched the latest addition to its fast-growing content and technology solutions business, the Open:FactSet Marketplace.
The new product offers a new online platform designed for use by investment professionals seeking a competitive edge. This new data capability is available as an enhanced feature of FactSet’s digital data intelligence platform.
The marketplace leverages FactSet’s deep expertise in data integrity and unlocks the power of both financial and alternative data. The offering combines pre-linked and harmonized datasets provided by carefully selected third-party providers with FactSet’s data feeds such as ownership, supply chain, and fundamentals.
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The Open:FactSet marketplace provides a single point of access to the data combinations the users need to power their investment workflow. With additional providers are expected to onboard in the coming months, it currently features 25 data feeds, including satellite, sentiment, and environmental, social, and governance (ESG) data from third-party providers.
Commenting on the news, Phil Snow, CEO of FactSet, said: “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. Clients are increasingly looking for a competitive edge through data, and we are innovating to meet this growing demand.”
“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,” added Rich Newman, Global Head of Content and Technology Solutions at FactSet.