New York-based OpenFin, a provider of HTML5 runtime technology for the financial industry, today announced that institutional research provider RSRCHXchange (RSRCHX) has become the first partner to join its Community Edition.
RSRCHXchange is now developing its cloud-based RSRCHX platform on OpenFin in a bid to enhance the experience for application clients by allowing them to use its live analytics without needing to access the platform via web browser. RSRCHX users now can access the portal through a segregated desktop application that uses OpenFin’s common operating layer.
RSRCHX provides asset management firms with an online repository of reports and enables the buy side to comply with MiFID II research requirements. Asset managers can search and buy non-broker research while users can rate the research and leave comments. They can also see how many times a report has been downloaded, and whether it was actually read and who within the company read it.
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The new model allows operations usually restricted in a browser, with access to sandboxed system level features and cross application communication.
OpenFin Community Edition
Last week, OpenFin announced the launch of OpenFin Community Edition, offering developers free access to its operating layer for financial desktop web apps. In addition, OpenFin has open-sourced its core technology, in a project called Hadouken.
Set up in 2010, OpenFin has grown to serve the world’s largest banks and trading platforms including BNP Paribas, Citigroup, HSBC, ICAP, JP Morgan and RBS, which now use OpenFin to deploy applications both in-house and to over 250 buy-side and 40 sell-side customers.
Vicky Sanders, co-founder of RSRCHXchange, commented: “Building the RSRCHX desktop application on OpenFin goes beyond simply improving the user experience of our research platform; with the industry facing a sprint in order to be ready in time for MiFID II implementation in January next year, it’s connectivity which will allow the industry to join the dots, linking together multiple MiFID II solutions.”
Jeremy Davies, co-founder of RSRCHXchange, added: “Leveraging OpenFin in this way is one of several developments that we have been working on to build out our connectivity for our customers and providers. It keeps RSRCHXchange at the forefront of financial technology innovation and we look forward to announcing other product upgrades and partnerships with more best-in-class providers, which will further improve our offering.”