Welcome to our March Newsletter!
In this month’s edition, we move to the third reason to go with EDI in the continuation of our series “10 reasons to go with EDI”, the addition of our products onto Snowflake, our latest partnerships, our new office opening in Agadir Morocco, EDI’s response to the FCA’s Wholesale Data Market Study and our partner spotlight of the month, featuring Decimal Point!
February’s Newsletter
If you missed last month’s newsletter and would like to read it, it is available here.
10 Reasons to go with EDI
Continuing our series of 10 reasons to go with EDI, we have quality data as our third reason.
EDI ensures 99.9% data accuracy through meticulous verification processes. This involves a combination of manual checks and software validation to ensure thorough scrutiny. We emphasize the importance of manual verifications, employing various controls such as downloading, printing, sample inspections, systemic reporting, and more.
The software is equipped with validation checks and rules to minimize human errors, with continuous enhancements based on experience. EDI incorporates both standard checks and tailored rules for specific events.
Continuously striving for excellence, EDI aims to elevate customer service and influence global markets positively. This commitment to quality is exemplified by the company’s attainment of ISO 9001 and ISO 27001 certifications, internationally recognized symbols of excellence.
New EDI Products available on Snowflake!
In 2023 we announced that EDI’s data had been made available on Snowflake. We are pleased to give you an update and confirm that we have now added even more products onto the platform!
Our newest products on Snowflake are Worldwide Corporate Actions, Global Market Holidays and Timings, and Securities Reference File. Please find the list of available services here.
- Equity End-of-Day Pricing
- Fixed Income End-of-Day Pricing
- Equity Index End-of-Day Pricing
- US Treasury End-of-Day Pricing
- Worldwide Adjustment Factors
- Worldwide Adjusted Shares Outstanding
- Free Float
Collaborations
Kamba Data
EDI Data is now available on Kamba Data!
We are pleased to announce that we have partnered with Kamba Group LLC to make our core data products available on their platform Kamba Data. The featured core data products on Kamba Data include EDI’s Worldwide Corporate Actions Service, End of Day Pricing, and Exchange Traded Derivatives. These offerings empower Kamba’s clients to explore a comprehensive range of financial data to make well-informed decisions.
Kamba Group allows technology and financial services companies to accelerate innovation at scale. Their platform, Kamba’s Exchange for Data, was co-designed with Hedge Funds to create an innovative platform for data purchasing, discovery, analysing and management. This revolutionary platform enables firms to swiftly unlock billions from concealed investments and provides a dynamic solution to the usual challenges of manually discovering and acquiring data (methods are laborious, slow, and costly for firms striving to generate returns quickly enough to remain competitive).
Jonathan Bloch, CEO of EDI, expressed his enthusiasm about the collaboration, stating, : “We are very pleased to work with Kamba Data. We want to build up our hedge fund clientele, we see Kamba data as a route to this market and we look forward to working with them.”
To learn more about Exchange Data International and explore the available data products, please sign up for an account on the Kamba Data platform.
Cross trade
EDI has been appointed as Cross Trade’s exclusive provider of financial data for its Weekend Trading Platform. Cross Trade’s objective is to empower retail and institutional traders to use a seamless weekend and holiday trading platform and leave traditional trading hours behind.
A planned expansion of the trading platform will soon bring a weekend version into the UK marketplace.
Radient AI
EDI and, leading fund intelligence platform powered by artificial intelligence, Radient AI, partnered to form a comprehensive data partnership.
This partnership puts EDI’s corporate actions and dividend data onto Radient AI’s platform. Our data seamlessly integrates the mutual funds, ETF, and equities data from major markets worldwide.
Radient AI platform users are equipped with invaluable insights for evaluating funds and calculating performance metrics with precision. This unprecedented access to critical corporate action data and the comprehensive suite of tools for investment analysis, market intelligence, and regulatory insights, empower asset managers and financial institutions. This unparalleled access facilitates the management of international portfolios.
EDI’s integration into Radient AI’s platform marks the dawn of a new era of streamlined performance assessment for the investment community. Both companies anticipate that this collaboration will eliminate friction, save investors valuable time, and enhance transparency across the investment landscape.
New office opening! In Agadir, Morocco
We are delighted to announce the opening of our newest office in Agadir, Morocco! On Thursday the 7th of March, our CEO Jonathan Bloch, and Chief of Staff, Corinne Johns, attended the ribbon-cutting ceremony in Agadir.
Jonathan Bloch, CEO of EDI, commented , : “We are very pleased to open up a new office in Agadir, Morocco. We have been in Morocco for over 10 years and have shown our commitment to the country and the staff. “
EDI responds to the Wholesale Data Market Study
EDI calls on the Financial Conduct Authority (FCA) to propose legislation outlawing discriminatory and anti-competitive practices implemented by major data vendors.
The recently published Wholesale Data Market Study found that benchmark data suppliers and major data vendors required clients to purge or cease using historical data upon contract termination unless an ongoing license fee is implemented.
In practice, this means that clients are reluctant to switch data providers as they would lose historical data, an important tool for performance comparison, especially for asset managers. The additional costs of switching data providers – including contract termination clauses and requirements to purge historical data- are important enough to offset any potential savings from switching providers. The switch becomes uneconomic.
Additionally, this poses an important barrier to smaller data providers who actively try to establish significant market share.
Pre Brexit, EDI commissioned a leading law firm to investigate these termination practices under the lens of UK competition law, with the assessment being that “there are cases which suggest that there are plausible arguments to be made that the Termination Practice infringes EU competition law”.
The FCA does not currently recommend or call for any change in legislation to prevent this. As such, with the Wholesale Data Market Study consultation period open until 12th April, EDI is now calling for the FCA to push for legislation that would prohibit both the requirement for data to be expunged upon contract termination and the imposition of licence fees to retain historical data post-termination.
Jonathan Bloch, CEO of EDI, remarked, : “Current termination provisions not only create huge barriers for clients who want to switch providers but also suffocate small data vendors who could otherwise flourish within the market. Calling this practice out isn’t enough: the FCA has a real opportunity here to take tangible action by calling for legal or regulatory change. In other jurisdictions regulators have made both legal and regulatory attempts to curb anti-comparative behaviour: all eyes are now on the FCA.”
Partner spotlight of the month!
Our partner spotlight of the month features Decimal Point, with whom we collaborate on our Investment Fund NAVs!
Decimal Point Analytics’ expertise lies in developing unique solutions that seamlessly integrate Finance, AI, Machine Learning, and automation, since 2003. Their objective is to ensure an efficient and effective journey through the financial realm.
EDI’s Investment Fund Net Asset Value (NAV) service delivers a bespoke database of NAV to financial institutions. Quick access to NAV data enhances the decision-making process of the financial community.
Offering a diverse array of services—from cutting-edge data management to predictive analytics, ESG solutions to investor relations— Decimal Point consistently anticipates and adeptly responds to market shifts.
EDI’s Investment Funds NAVs’ database has over 62,000 Share Classes across 28 countries. The data field coverage includes basic information such as the share class name, its identifier and current and previous NAV dates, as well as more detailed information such as the current and part NAV, percentage changes in NAV, NAV currency and more. The data frequency is daily end-of-day.
Only the best practices are applied to assure data quality. We follow a defined standard operating procedure. All data is sourced directly from authentic sources and undergoes a thorough data validation process. Clients can select their preferred delivery format and options to increase accessibility.
There is room for customization to meet the requirements of users, such as choosing specific funds/share classes, adding additional ones, and accessing historical data.
Clients of EDI’s NAVs are wealth & asset management firms, financial advisors and consultants, index providers, hedge funds and investment banks, and regulatory bodies and compliance departments.
Let’s meet! Events in April
March was a busy month! Over the last four weeks, we attended six events, two in the United States and four in the United Kingdom. We are very happy to be stepping into April at a similar pace.
If you would like to meet in person and have a chat, we will be attending the following events in April:
- 08th – 09th April – FIMA US 2024, in Boston, Massachusetts
- 10th April – FOW Amsterdam, in Amsterdam, Holland
- 17th April – FISD Madrid, in Madrid, Spain
- 14th- 19th April – SimCorp Global Summit 2024, in London, UK
- 30th April – 02nd May- 2024 Options Industry Conference, in Asheville, NC, USA
For more information about our events, please visit our events page or contact our sales team at [email protected]
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