Applies Artificial Intelligence to address MIFID II concerns around research
CENTRAL LONDON, England - March 14, 2017 - PRLog -- FeedStock, the intelligent information management platform, has today announced a strategic investment from Illuminate Financial Management (IFM).
As specialist venture investors in capital markets financial technology, Illuminate has been seeking a company that can help address the MiFID II regulatory environment around research while also innovatively addressing the longer-term challenges of information overload on the buy-side. FeedStock satisfies each of these requirements.
FeedStock filters, categorizes and tracks investor research using complex artificial intelligence software, which can be embedded into its clients' internal systems.
Drawing on state of the art machine learning to filter incoming information, FeedStock categorizes and prioritizes relevant research in a way that is bespoke to the fund manager or analyst. This processed information is contained on a dynamic platform with additional filter, search and evaluation tools, producing unprecedented efficiencies. There are further controls on the system to manage unsolicited research promotions, which are often considered as inducements.
Using multiple data sources, FeedStock automatically calculates all research consumed, accounting for meetings and calls, enabling buy-side institutions to produce defensible, transparent metrics when budgeting and paying for research. The data produced is both quantitative and qualitative ensuring that the research payments are not only accurate, but are also in line with the MiFID II regulations.
FeedStock already has a number of asset managers on the system and its client base continues to grow. As the company expands, it will continue to evaluate additional direct information sources to feed into the FeedStock system.
Charlie Henderson, joint managing director and founder of FeedStock, said:
"It is testament to our growing business that we have received an investment from Illuminate Financial Management. Their in-depth knowledge of the capital markets fintech sector combined with their existing strategic partnerships make them the ideal investor for Feedstock. We look forward to working with their team, to aggressively grow the business."
"The twin challenges of information overload and MiFID II compliance around research have created both an efficiency problem and a compliance issue for the buy-side," said Mark Beeston, Founder and Managing Partner of Illuminate Financial Management. "The team at Feedstock have experienced these issues first hand from both buy-side and sell-side and we are excited to be part of their journey as they bring state of the art technology to this key industry challenge," he added.
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FeedStock is an intelligent information management platform for investment professionals. State of the art machine learning is used to filter received emails, categorizing and prioritizing what research is relevant to the user. FeedStock automatically calculates the quantity and quality of all research consumed, including meetings and calls, so that buy-side institutions have defensible metrics for paying for research, as per the MiFID II rules.
FeedStock integrates with multiple systems to capture the widest range of research interaction and is able to produce automated audit trails from these multiple research inputs to build a comprehensive dataset for internal and external transparency.
It also provides a seamless transition towards the new MiFID II environment.
FeedStock was founded in 2015 by Charlie Henderson and Lucas Wurfbain. Charlie has in-depth sell-side experience as a research analyst and broker at Cenkos Securities and Lucas has extensive buy-side experience as an analyst and fund manager at GAM, Rubicon and Fortress.
About Illuminate Financial Management
Illuminate Financial Management LLP is a venture capital firm that crosses the chasm between capital markets fintech and the financial institutions it should serve. The firm was founded in 2014, recognising the growing importance of Fintech but questioning how much it was contributing to building more sustainable financial institutions. IFM has created partnerships with core strategic investors and a growing number of Capital Markets firms to gain real insight into what the market needs. We leverage this to find, validate and fund early stage companies and harness our extensive experience across banking, entrepreneurship and consultancy to help these companies achieve their full potential.
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Feedstock Receives Investment From Illuminate Financial Management LLP
March 14, 2017 at 11:40 AM EDT