Institutional research marketplace RSRCHXchange has partnered with corporate access management solution provider CorpAxe in order to make research consumption data available to the buy side.
The RSRCHX platform is a purpose-built solution, allowing asset managers to purchase and monitor research in one place, tracking firm-wide use and allowing clients to only pay for what they use, in compliance with the second Markets in Financial Instruments Directive (MiFID II).
Through the partnership, research consumption and assessment data will be shared between RSRCHXchange and CorpAxe, making it available to mutual buy-side customers, and further improving transparency of data interactions.
It is also intended to address data reconciliation challenges between the buy and sell sides, allowing for live data consumption tracking and assessment of data on the RSRCHX platform, thereby giving clients instant and piece-specific research assessment.
Ed Byon, CEO and co-founder of CorpAxe, said: “This is a great opportunity for CorpAxe customers. Linking to RSRCHX means they can quickly reconcile their data, assess research consumption in real time, and value research more easily. Partnering with RSRCHXchange complements our offering and is part of our mission to create scalable and innovative solutions for our buy-side clients.”
Vicky Sanders, co-founder of RSRCHXchange, commented: “Working with CorpAxe will bring the benefit of our research consumption analytics to a much broader audience and furthers our commitment to interoperability, which will help the industry to meet the looming MiFID II deadline.”
Jeremy Davies, co-founder of RSRCHXchange, added: “MiFID II compliance is on the minds of everyone at buy-side firms this year. This partnership with CorpAxe is a great example of how the asset management firms in our network can use our unique live consumption analytics, real-time research assessment tools and research marketplace in conjunction with another best-in-breed solution to meet their MiFID II requirements.”
