By
Mayowa Adebajo
March 12th, 2024
The collaboration of financial information provider and leading blockchain developer for the investment industry is expected to significantly benefit the clients of both companies.
Some companies are just meant to partner – and that is the case of FactSet and CG Blockchain. Both companies operate in the financial world, and the scope of the products they offer seems to be complimentary. On the 8th of February the companies announced the beginning of strategic relationship.
FactSet is a company which provides investors with all the products and services needed for better trading experience. It is headquartered in the US. FactSet has a long history – it was founded in 1978 and has grown up to the scale of presence in 23 countries. It offers solutions for all kinds of traders, investment bankers, wealth managers, etc.
CG Blockchain specializes in blockchain-based technologies for investment industry. The company uses its own platform BCT Fundstore to provide users with a set of services. The platform provides investors with a bulk of tools for cryptocurrency trading.
The main idea behind the new partnership is the integration of order and execution management system (OEMS) by FactSet and CG Blockchain’s services. The collaboration has already attracted some clients. John Adam, Senior Vice President and Global Head of Portfolio Management and Trading Solutions of FactSet, said that 17 firms have already confirmed their usage of new services – and more are still in the negotiating process.
“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,” he said. “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.”
The combination of OEMS and BCT Fundstore services upgrades the offer of both companies. FactSet gets an opportunity to make their trading strategies system more transparent and secure. For CG Blockchain customers the collaboration allows to provide their users with a new quality of service.
“This is an extremely exciting initiative that I believe is nothing short of transformational,” said Bob Bonomo, President of CG Blockchain. “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.”
The collaboration of FactSet and CG Blockchain is a great example of the mutually beneficial partnership. The cryptocurrency trading has encouraged the development of more secure and, at the same time, more transparent services. However, the importance of traditional investment companies’ experience can hardly be overestimated. The united efforts of these companies take the investment to a whole new level.