100 data suppliers now signed up to Crux Informatics
Cloud-based data delivery and operations platform Crux Informatics (Crux), has announced the 100th supplier signed up to use the company's ready-made data delivery infrastructure and services.
The milestone was reached after 37 new suppliers signed up in 2020, a 58 per cent increase, as demand spiked for Crux’s services. The platform is designed to streamline the building of data pipelines, the ongoing validation of data quality and management of the operations between suppliers and consumers.
Of the suppliers working with Crux, 65 per cent are financial/market data providers and 35 per cent are alternative data providers.
“We’ve reached a tipping point in which financial data suppliers and consumers now more than ever need a reliable way to deliver data free from error, quickly and at scale,” says Philip Brittan, CEO of Crux Informatics. “Financial institutions of all sizes are leveraging more data and using cloud-based technology to help manage it. We see great advantages to using our offering for companies looking to simplify their data infrastructure to refocus internal resources on more differentiating activities.”
Other milestones this year include:
• Delivering and validating more than 10,000 datasets on an ongoing basis, representing ~525 million files under management, a 214 percent increase from the end of 2019;
• Signing deals with global asset managers, bulge bracket broker dealers, market data exchanges, data marketplaces, and analytics platforms as new client categories;
• Expanding Crux Deliver product offering to data suppliers, improving their delivery capabilities at a fraction of their internal costs.
2020 also marks the official launch of Crux Discover, a powerful and flexible metadata browser that enables users to quickly navigate and explore all the datasets that suppliers are delivering via Crux. Crux Discover makes finding relevant data easier than ever by browsing across multiple suppliers and providing a rich library of datasets, metadata and sample datasets to trial. Users can quickly connect with suppliers for dataset licensing/entitlements and then access the data quickly and flexibly via API, Python, SQL statements and/or multiple cloud warehouse requests.
“Financial companies see more value in our data delivery capabilities and we’re only scratching the surface of what’s possible,” adds Brittan. “Our growth coupled with a clear industry need only makes more plain the simple truth that cloud-based technology is opening up tremendous opportunities for companies who are seeking competitive advantage. We are at the cusp of an exciting wave of investment of resources into new cloud technology.”