StatPro has taken a leap forward in evaluated pricing data following a partnership with Interactive Data that integrates the data providers’ evaluation data on 2.8 million fixed income securities into StatPro’s Revolution cloud-based portfolio analytics solution. StatPro will continue to offer evaluated pricing for about 0.5 million global equity securities, bringing its coverage to 3.2 million securities, and has plans to add more through both internal development and external partnerships.
The evaluated pricing data is available from the StatPro Revolution App Store for a portfolio-based rather than a user-based fee, allowing clients to work with both data and analytics in Revolution. Neil Smyth, StatPro marketing and technology director, explains: “Clients can find data management difficult, so we have avoided providing empty software that has to be fed with data. Instead, since the introduction of Revolution in 2011 we have offered pricing and market data to calculate the performance and risk of a portfolio. We don’t resell Interactive Data’s data, but offer it to clients through the Revolution platform, giving them flexibility to buy only what they need on a portfolio basis.”
Anthony Belcher, director EMEA pricing and reference data at Interactive Data, adds: “Increased demand for transparency from portfolio reporting and new accounting standards are driving demand for high quality, fixed income evaluations to better manage portfolios and the valuation process. Through this agreement, StatPro’s asset management clients can quickly and easily access a broad range of our fixed income evaluation data.”
StatPro considered other partners before finding Interactive Data open to partnership on a non-exclusive basis. It is now looking to extend coverage further with additional basic securities as well as more exotics and difficult to price securities. “Our goal is to have 100% coverage of our clients’ portfolios,” says Smyth. “We have a pricing team that is working on complex assets that are hard to price and we will feed pricing for OTC securities and derivatives into the system over the rest of this year. We will also partner other data vendors, giving users a choice of data suppliers and a number of valuations of the same securities.”
StatPro also intends to partner software providers that can add to the analytics and reporting apps it offers through the Revolution app store. Smyth says: “We want more portfolios on the Revolution platform. Users pay to have portfolios on the platform, but we will enrich it with our own and third-party applications.” The company is finalising a software developer’s kit that will soon be available to potential application providers. It is also pushing Revolution out into external partnerships. For example, it has a deal with Linedata under which the company’s Longview portfolio management users can access and consume Revolution’s portfolio analytics.
StatPro is early to market with a cloud platform encompassing market data and performance and risk attributes for portfolio analytics, and says it has about 150 clients from global custodian banks to small investment advisers in 30 countries. “Our strength is that we are not confined to a particular niche market. Anyone who wants sophisticated performance or risk a
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