About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Briefs

Substantive Research Reveals Increase in Investment Research Spending

Subscribe to our newsletter

Substantive Research, the research and data spend analytics provider, has released findings from its latest survey on investment research pricing, budgeting, and consumption for the first half of 2024. The survey assesses the impact of the FCA’s April 2024 Consultation Paper on “Payment Optionality for Investment Research,” which has sparked debate over whether European asset managers should revert research costs back to end investors after six years of absorbing these expenses due to MiFID II.

Key findings indicate an overall 2.2% increase in research budgets globally, with US budgets rising 15% as a proportion of assets under management (AUM) and European budgets increasing by 4%. Brokers continue to dominate, capturing 85% of the annual spend, albeit with a slight decrease, while spending on analytics and research tooling grows. The top 10 brokers maintain a significant share, slightly rising to 54.9%. This evolving landscape suggests a shift towards greater consumption and varied pricing strategies within the research market, with potential competitive impacts from the FCA’s proposed reforms.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Unlocking value: Harnessing modern data platforms for data integration, advanced investment analytics, visualisation and reporting

4 September 2025 10:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes Modern data platforms are bringing efficiencies, scalability and powerful new capabilities to institutions and their data pipelines. They are enabling the use of new automation and analytical technologies that are also helping firms to derive more value from their data and...

BLOG

SOLVE Launches AI-Powered Pricing Tool for Corporate Bond Market

SOLVE, the fixed income data and pricing solutions provider, has launched of SOLVE Px, an AI-driven pricing tool for the high-yield (HY) and investment-grade (IG) corporate bond markets. The new tool delivers predictive, trade-level pricing across more than 100,000 corporate bonds, supporting fixed income professionals operating in often illiquid and fast-moving markets. Built on machine...

EVENT

Buy AND Build: The Future of Capital Markets Technology

Buy AND Build: The Future of Capital Markets Technology London examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...