The move represents a significant step towards transforming the way that the financial industry consumes data as it starts to move to a model where professionals can pick and choose data from any provider. The Open:FactSet Marketplace increases access to financial and alternative data for all investment professionals and offers datasets that can be easily connected with proprietary models, algorithms and systems.
With the Sanctioned Securities Monitoring Service of SIX, Open:FactSet users will be better able to mitigate risk by understanding the potential impact of sanctions on investment decisions. The service flags related entities and issued securities of “watched” individuals or organizations who have been sanctioned by regulators or government bodies. It also identifies regimes under which each is sanctioned, drawing from various international regulatory bodies. SIX monitors 7.5 million active instruments and over 26,000 changes a week, including regulator updates and shareholder changes, making it one of the most comprehensive sanctions and watchlist checks in the market.
Richard Newman, Senior Vice President and Global Head of Content and Technology Solutions, FactSet, said: “Investment professionals are working in an increasingly complex regulatory landscape, which makes understanding the impact of sanctions on portfolios and other research and compliance functions a growing priority. Clients face a challenge in finding and integrating datasets from a multitude of sources. Adding regulatory data from SIX to the Open:FactSet Marketplace will make it easier for them to integrate key information into their investment workflows.”
Phil Lynch, Head Markets, Products & Partners at SIX, said: “Platforms, like the Open:FactSet Marketplace, will play a key role in the way data is consumed in the future. The integration of multiple award-winning sanctions data services from SIX will allow FactSet’s extensive network of investment professionals to adapt quickly to regulatory demands and sanctions activity, helping them to trade with confidence.”