Leading financial data provider FactSet has entered into a strategic relationship with CG Blockchain, a developer of blockchain technology for the investment industry.
Under this partnership, FactSet clients will have access to CG Blockchain products through its BCT Fundstore. On the other hand, CG Blockchain’s current and future clients will be able to use FactSet’s Portware execution and order management capabilities, delivered as FactSet OEMS, for trade execution, analysis, order generation, and compliance efforts.
In September 2015, FactSet acquired Portware – an award-winning, multi-asset execution management system. FactSet OEMS is a configurable, “thinking” order and execution management system designed to act as the central platform for the creation and execution of trading strategies across asset classes.
As an extension of CG’s current product, ComplianceGuard, BCT Fundstore offers a suite of blockchain apps built upon a robust compliance framework.
“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,” said John Adam, Senior Vice President, Global Head of Portfolio Management and Trading Solutions, FactSet. “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 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—helping investors achieve new levels of transparency and security.
“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,” said Bob Bonomo, President, CG Blockchain.
