Information and analytical applications provider FactSet announced that it has partnered with CG Blockchain, a developer of blockchain technology for the investment industry.
The partnership will allow FactSet clients to have access to CG Blockchain products through its BCT Fundstore, offering a suite of blockchain apps built upon a robust compliance framework. In turn, CG Blockchain’s current and future clients will also use FactSet’s industry-leading Portware execution and order management capabilities, delivered as FactSet OEMS, for trade execution, analysis, order generation, and compliance efforts.
The powerful combination of FactSet’s OEMS solutions and CG Blockchain’s Fundstore brings to market one of the first times blockchain technology is directly integrated with an OEMS for real-time, persisted, immutable recording of transactions to a distributed ledger.
John Adam, Senior Vice President, Global Head of Portfolio Management and Trading Solutions, FactSet, commented: “Hedge funds and asset managers are looking to adopt disruptive technologies; meanwhile, global regulatory authorities are demanding increasing levels of transparency and accountability to protect the end investor. It is critical for established technology partners like FactSet to continue to evolve our solutions to both meet current client needs and set the standard for future technology initiatives globally. CG Blockchain has harnessed a new, innovative technology that raises the bar for compliance. The integration of Fundstore and FactSet OEMS will offer institutional investors visibility and timeliness that was previously unavailable from a third party.”
Bob Bonomo, President, CG Blockchain, said: “This is an extremely exciting initiative that I believe is nothing short of transformational. This mutually beneficial alliance plugs FactSet into the multi-hundred-billion-dollar blockchain market that is currently experiencing exponential growth—and it gives FactSet clients access to institutional-grade blockchain-based apps and tokenized ecosystems. Each of these factors positions FactSet for increased market share and places it at the forefront of this industry segment.”
FactSet OEMS is a “thinking” order and execution management system designed to act as the central platform for the creation and execution of trading strategies across asset classes. FactSet’s information, analytics and technology services are used by over 65,000 investors.
FactSet was the first distribution partner to offer its Bats One Premium market data product, geared towards sophisticated professional investors and featuring five levels of real-time quoted depth and trade information across the four Bats U.S. stock exchanges.