A-Team Insight Blogs

VendEx Launches VSource Vendor Services Directory for the Market Data Industry

San Francisco-based market data management specialist VendEx Solutions has launched VSource, an interactive digital catalogue of market data vendors, products and services, containing details of more than 3,700 active vendors at launch.

VSource uses a proprietary alphanumeric taxonomy, the VID (patent pending), to capture product and service information at a granular level, enabling firms to research and compare authenticated financial technology and assess emerging technologies by vendor, product, service, geography, delivery, asset class, instrument type, and more.

VendEx was founded in 2019 by a team of market data veterans looking to shake up the market data marketplace by creating a centralised hub for managing the relationship between financial institutions and their data providers.

“VendEx’s goal is to eliminate the friction caused by the number of vendors out there and the way that vendors and consumers interact,” says Richard Clements, CEO. “We realised that we needed to create a solution that would help financial institutions understand what they have and what’s available. VSource, our definitive vendor catalogue, is a key component of the ecosystem we’re building.”

The VSource directory covers not only market data products and services, but also trading platforms and analytics products. “VSource spans across the board of what we consider market data vendors,” says Clements. “So for example, if it’s a solution running relatively complex price and yield calculators on structured finance instruments, requiring a number of different data inputs on cash flows, VSource will cover that.”

Clements is keen to point out that VSource does not rank vendors or provide any detail about product benefits. “We just provide specifics about what the product attributes are. We take copy from the vendors and edit it so that it’s clean, by taking out all superfluous language, things like ‘world class’, ‘best in breed’, ‘award winning’ etc., and we get down to the brass tacks. We represent all vendors equally and fairly in our system and take a very neutral view of how we describe both the vendors and their services,” he says.

Every vendor on VSource has its own homepage, with over 70 fields of foundational information, including whether they’re public or private, where their headquarters are, the offices they have around the world, contact information, and details of the C-suite. Financial data is also included for publicly traded entities. Every product from each vendor also has its own product page.

“We have three levels of data currently,” says Clements. “Level One is just basic vendor information. And to date we’ve identified 3700 vendors. Level Two is where we have foundational data on the vendor. Level Three is where we’ve broken down the products, and Level Four is vendor contributed information. We currently have just under 500 vendors that are at Level Three, and that number is rapidly growing.”

A critical component of VSource is the patent pending VendEx ID (VID), a 42 character alphanumeric code that gets tied to every product and service on the system.

Later this year, the company plans to launch VLink, a portal where vendors can communicate not only with the system, but also with their clients. “The standard VLink service will be free for vendors, so they’ll be able to can see their own data and request edits, changes, or updates to that data to ensure it’s accurately reflecting the company and the products and services they provide,” says Clements. “The premium VLink service will allow them to submit their own marketing materials next to the VendEx copy, which will include tear sheets, one pagers, PowerPoints and videos as well as publish alerts on new products, end of life, etc.”

Regarding the commercial model, customers pay a licence fee for VSource, depending on the size of the institution, and the number of logins that they have, says Clements. “We’re also licensing VIDs in bulk to both the consuming institutions and the vendor institutions. Vendors however can sponsor, so the consumers will get those VIDs for free.”

Related content

WEBINAR

Recorded Webinar: The evolution of market surveillance across sell-side and buy-side firms

Market surveillance is crucial, and in many cases a regulatory requirement, to ensuring orderly securities markets and sustaining confidence in trading. It can be breached and has become increasingly complex in the wake of the Covid pandemic, Brexit, and the emergence of new asset classes. This webinar will review the extent of market abuse in...

BLOG

Exegy and Vela Merge to Create Market Data and Execution Technology Powerhouse

Exegy, a provider of hardware accelerated solutions for market data and predictive analytics, and Vela, a market data and execution technology provider, have announced the merger of their business operations in an agreement backed by Marlin Equity Partners, a global investment firm with over $7.5 billion of capital commitments under management. Commercial terms of the...

EVENT

RegTech Summit Virtual

The RegTech Summit Virtual is a global online event that brings together an exceptional guest speaker line up of RegTech practitioners, regulators, start-ups and solution providers to collaborate and discuss innovative and effective approaches for building a better regulatory environment.

GUIDE

Trading Regulations Handbook 2021

In these unprecedented times, a carefully crafted trading infrastructure is crucial for capital markets participants. Yet, the impact of trading regulations on infrastructure can be difficult to manage. The Trading Regulations Handbook 2021 can help. It provides all the essentials you need to know about regulations impacting trading operations, data and technology. A-Team Group’s Trading...