Intrinio Launches Exclusive Data Market for Asset Managers

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Data marketplace provider, Intrinio, recently announced that it has launched an exclusive, invitation only data market called Prophet which features unique alternative data and other alpha generating predictive datasets for institutional clients.

New Product Launch

As we wrote about in a recent profile, Intrinio provides a data marketplace for institutional investment teams and financial software developers – offering a single API which enables users to cost effectively access more than 250 unique datasets provided by Intrinio and numerous third-party data sources. 

Less than one month ago, Intrinio launched a new offering called Prophet which is an exclusive member only service for institutional investors geared to providing restricted access to alpha generating datasets, as well as a data scouting service for asset managers looking for more unique data.  Firms looking to access Prophet datasets must first request access and go through a process of being approved for membership.

Currently the Prophet platform provides clients with access to 25+ datafeeds like a few listed above, with expectations of more than doubling that number of datasets by the end of the year.   Prophet clients can also subscribe to a premium version of membership where they gain a one-month heads up about new datasets that will be added to the platform.

Prophet clients can also take advantage of Intrinio’s  expertise to source unique datasets not currently in the marketplace.  These unique datasets can either be added to the Prophet marketplace or not, depending on the interests of the institutional investor.

Our Take

Intrinio is entering a crowded space with its new Prophet alternative data marketplace for institutional investors – competing with offerings like Nasdaq’s Quandl, Open:FactSet Marketplace, Crux’s data portal, BattleFin’s Ensemble, Adaptive Management’s DataMonster, just to name a few.

In addition, the firm is a little behind its competition as Prophet currently offers a limited number of datasets; access to each of these datasets requires integrating different APIs rather than the single API employed by Intrinio’s Financial Data Marketplace; and, Prophet doesn’t currently offer a sandbox environment to allow clients to test datasets.

While the company says these shortcomings will be addressed in the future, Intrinio has still found early adopters have been eager to sign up for Prophet.  Some of the reasons for this interest are the customer service offered by Intrinio; the fact that Intrinio provides clients with custom software development in addition to access to the data; the firm’s bespoke data scouting service; and, the aggressive and tailored pricing approach Intrinio offers to clients.

Given these factors, we suspect Intrinio should be in a position to grow the use of its Prophet alternative data marketplace, particularly with smaller quantitative funds and hedge funds looking to add the adoption of alternative data to their traditional investment research processes.  It will be interesting to watch over the coming few years to see whether Intrinio can overcome its competitive disadvantages and capture market share from some of the more established players in the space.

For more information about Intrinio’s Prophet alternative data marketplace please contact: sales@intrinio.com.

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About Author

Mike Mayhew is one of the leading experts on the investment research industry. In addition to founding Integrity Research, Mike is on the board of directors of Investorside Research Association, the non-profit trade association for the independent research industry, and a frequent speaker on research industry trends and developments. Mike has over thirty years of research industry experience. Email: Michael.Mayhew@integrity-research.com

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