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Crux Informatics

Mutualising data engineering

There is increasing demand for more data to drive investment decision making and greater need for financial firms to find and harness an increasingly fragmented array of data. The push to derive a competitive edge through interrogating vast volumes and new types of data is coming from buy side, sell side, research and other financial companies.

Crux Informatics launched in 2017 with a business model that alleviates the burdensome task of managing data, so institutions can focus on creating returns. Crux operates a technology platform that acts as a neutral interface between vendors and buyers of data. This improves the quality and usability of data and speeds its delivery, while also aiming to reduce data management costs by sharing them among multiple clients – and over time, a growing pool of clients. Customers benefit from economies of scale in data management costs.

As demand for datasets grow, notable investors have also become Crux’s customers.

Neutrality

Crux does not buy or sell data or take a revenue share, they just help the data flow. Founder & CEO, Philip Brittan, believes this neutrality is an essential part of the business model: “to get real scale, we need to be completely un-conflicted. Crux is not disintermediating any vendors.”As the message spreads, Crux is receiving plenty of inbound queries from vendors, who license the data directly to clients and maintain direct relationships with their customers. “The Crux entitlement system is granular, and vendors have ongoing sight of who is accessing the data,”Brittan explains. Crux intends to continue accelerating client on-boarding, a process that has historically often taken months or years – and frequently never happens for some vendors as customers wander off during the lengthy process.

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