At RSRCHXchange, we believe that the financial research market fundamentally changes under MiFID II. The way in which research is currently consumed by asset managers and distributed by research providers will need to evolve to meet the new requirements introduced by research unbundling. Ultimately, a marketplace emerges to the benefit of both the buyers and sellers of research.
This is why we launched RSRCHX, a purpose-built research unbundling solution in 2015. Designed in consultation with asset management institutions and research providers, the RSRCHX platform is one system for research consumption, procurement and management. We are already helping those firms transition to a paid-for research market and meet their MiFID II requirements. Our user base has grown to more than 1,000 asset management firms and over 200 research providers, a quarter of whom are banks and brokers.
RSRCHXchange was founded by Vicky Sanders and Jeremy Davies, who both come from capital markets backgrounds having worked for banks and asset management firms. Nex Group Plc, the FTSE 250 financial services company, invested in RSRCHXchange in early 2017. Our board includes Adam Toms, former CEO of Instinet Europe, Don Guiney, former senior capital markets partner at Freshfields, and Michael McFadgen, Managing Director at Euclid Opportunities, NEX’s fintech investment division.