Today, the grand daddy of all independent research firms, Standard & Poor’s, announced that it has joined the 100 other indie research firms on BNY Jaywalk’s Independent Research Meritocracy platform.
This move should not be considered surprising given Jaywalk’s success with the various independent research consultants. Thus far, Bear Stearns, Lehman Brothers, and UBS have all previously announced they had signed contracts with BNY Jaywalk. Rumors suggest that another two firms are also leaning towards using the Jaywalk system.
Today’s move is also a perfect fit for both firms, as a few weeks ago Jaywalk had previously identified between 1000 to 1500 stocks required by at least 1 of the 5 independent research consultants where NO FUNDAMENTAL RESEARCH COVERAGE had yet been provided by any of the 100 research firms under the Jaywalk banner (though these stocks might be covered by Quant research shops). S&P’s 65 analysts provide fundamental research coverage on close to 1,300 stocks.