MDX’s Project IOWA and FactEntry forge new content collaboration
Direct access to premium fixed income data at reduced cost
Democratisation of data within financial markets gains pace
MDX Technology’s Project IOWA, the new market data business driven ecosystem, announces its first strategic partnership with FactEntry. FactEntry is an independent provider of bond data and documents which supports the needs of fixed income and credit professionals. MDX Technology is recognised as the industry standard in providing data capture & contribution solutions direct to end user consumers, Project IOWA brings these two worlds together. The FactEntry partnership is the first in a number of specialist data content collaborations the Project IOWA team will be announcing throughout 2019.
Project IOWA is underpinned by MDX’s market leading technology and provides a single and highly accessible destination for specialist market datasets. It enables all content creators and content consumers to meet and transact business using flexible, multi-channel subscriptions models not previously available. The technology is already proven within the global financial marketplace and is used across the asset class spectrum, from front to back-office including energy and fixed income.
FactEntry provides clients with deep, granular bond data, which is compiled, mapped and constantly maintained in a fixed income securities master data file. Using a variety of methods including parsing, automation, AI and manual intervention, the FactEntry dynamic database provides essential fixed income data, tracking the life cycle of over 900,000 bond issues.
Darren Bishop, programme lead at Project IOWA commented. “Modern technologies and the availability of new delivery channels such as Symphony has prompted many users to ask why they are still having to pay premium rates for market data ‘bundles’ much of which they don’t really need. Led in part by the ‘on-demand’ commercial model established by the entertainment business, one now has to question if we are heading towards a similar democratisation of information between the content owners and consumers within the market data arena. If the emergence of the derivatives market seen in the early 80’s had happened today, we would have already applied these smarter, disruptive technologies to provide content owners more flexibility and choice over the distribution channels they used and content consumers more say in how they acquired and what they paid for the data they required. This is where the Project IOWA and FactEntry collaboration really comes into its own as it provides users with imaginative and compliant technical solutions at a vastly reduced price point without compromising any existing licensing obligations.”
Sandeep Dhingra, CEO at FactEntry continued. “One of the most exciting aspects of our relationship with the Project IOWA team is that we share very similar values and goals. FactEntry is all about quality and we are on a mission to ensure we provide all our users with access to comparable, premium data at extremely competitive rates. It is no secret fixed income markets continue to be challenging and with everyone under intense pressure to cut costs, the timing of this announcement could not be more perfect. Project IOWA is a very viable alternative to the established data vendor environment providing the subscriber with flexible on-demand access to our data; and the beauty is that they now only have to pay for what they want, not what is given to them. We believe Project IOWA becomes a highly compelling proposition not just for the FactEntry customer, but also for others across the financial services spectrum who are seeking innovative and more cost-effective ways of working.”
Paul Watmough, CEO at MDX Technology, concluded. “We are delighted to announce this strategic partnership with FactEntry as we are already working closely with them on a number of very interesting client collaborations. Project IOWA is all about turning dreams into reality and this, together with our esteemed partners is our combined goal for 2019.”