Euclid Opportunities invests in RSRCHXchange
23 February 2017
RSRCHXchange is used by over 1,000 asset managers and 190 bank, broker and boutique research providers
London - Euclid Opportunities, NEX Group’s financial technology investment business, announces today that it has made a strategic investment in RSRCHXchange, a cloud-based marketplace and MiFID II workflow solution for accessing institutional research. The investment will enable RSRCHXchange to continue to expand its global footprint and accelerate growth. Terms of the investment are not disclosed.
RSRCHXchange launched RSRCHX, its marketplace and MiFID II workflow solution for institutional research in 2014, in anticipation of the unbundling rules which come into force in January 2018. A technology driven solution, RSRCHX dramatically improves the way financial institutions manage and consume research, and is used by more than 1,000 asset management firms and around 190 bank, broker and boutique research providers. The marketplace enables asset managers to consume, purchase and monitor research in one purpose-built solution, which tracks firm-wide consumption, improves the procurement process and ultimately ensures MiFID II compliance.
RSRCHXchange is the latest company to join the Euclid Opportunities portfolio. Through Euclid Opportunities, NEX strategically invests in exceptional financial technology companies that are transforming capital markets. Other Euclid Opportunities investments include: Abide Financial, ENSO Financial, OpenFin, Duco and OpenGamma.
Michael McFadgen, Managing Director at Euclid Opportunities, said: “MiFID II research unbundling is a key challenge for our clients and the wider market in 2017. RSRCHXchange is bringing next generation technology to solve a complex regulatory challenge while also allowing both providers and consumers of research to extract greater value from content. The business has made amazing progress thus far and we’re delighted to bring our capital, operational expertise, and networks to help scale the business globally.”
Jeremy Davies, Co-Founder of RSRCHXchange, said: “The asset management community is on the cusp of unprecedented change as research and execution costs unbundle in less than 12 months when the MiFID II requirements come into effect. We are now providing over 1,000 buy-side firms with a MiFID II solution for buying, managing and procuring investment research. Euclid Opportunities’ investment in RSRCHXchange has come at a pivotal moment in time and will enable us to further develop the RSRCHX platform for the benefit of both asset managers and research providers.”
Vicky Sanders, Co-Founder, RSRCHXchange, said: “We are thrilled to have received investment from Euclid Opportunities, who have a proven track record of investing and growing innovative fintech firms. Their investment is testament to our business model and comes at a time of great momentum for our RSRCHX platform. We look forward to Euclid’s support well beyond the implementation of MiFID II, to achieve our growth ambitions for the future.”
Bryony Scragg, Head of Media Relations, NEX
0207 818 9689
Matt Fincham, Streets Consulting for RSRCHXchange
020 7959 2235
Euclid Opportunities A NEX Group business. Euclid Opportunities, which operates within NEX Opportunities, helps companies challenge convention and accelerate growth. We invest in financial technology companies that are transforming markets. We partner with pioneers who are bringing new technologies, sciences, business models, and talent to capital markets technology. Investments include: Abide Financial, AcadiaSoft, ENSO Financial, Duco, OpenGamma, Axoni, Digital Asset Holdings, OpenFin, Cloud9 Technologies. For more information, go to www.euclidopportunities.com
NEX Group plc offers customers better ways to execute trades and manage risk. Our products and services underpin the entire trade lifecycle pre-, during and post-execution. Our electronic trading platforms are industry standards. Customers use our lifecycle management and information services to optimise portfolios, control risk and reduce costs. We partner with emerging technology companies to bring greater efficiency, transparency and scale to the world’s capital markets. NEX is headquartered in London with offices worldwide. NEX. Empowering markets.
For more information, go to www.nex.com
RSRCHXchange is a marketplace for institutional research, a purpose-built MiFID II unbundling solution. Designed in consultation with asset management institutions and research providers, the RSRCHX platform enables asset management firms to consume, purchase and monitor research services from banks, brokers & boutique providers in a more efficient, discerning and transparent way. The RSRCHX dashboard allows asset managers to track firm-wide research consumption across all research counterparties, to rate and evaluate the content they receive, to verify external interactions, and to improve the procurement process, while ensuring MiFID II compliance. At the same time, the RSRCHX platform enables research providers to take greater control over distribution and monetise the value of their research, while evidencing compliance with MiFID II unbundling requirements and benefitting from access to a growing community of global buy-side firms.
RSRCHXchange was founded in 2014 by an experienced industry team and has grown its user base to over 1,000 buyside firms and 190 research providers. To find out more, please go to www.rsrchxchange.com.