Quantbench - The Cloud-Based Marketplace for Non-Traditional Data Sets

from Xand : pcurley - 31st December 1969

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Quantbench

Our Customer Spotlight series showcases the innovative ways our clients are using Xignite's Cloud APIs to power their applications.

Quantbench is a San Francisco-based start-up that combines a unique marketplace for non-traditional data sets, with a financial data analysis platform for financial analysts, academics and data scientists. This 100% cloud-based financial research platform provides its members with the data sets and tools necessary to conduct deep quantitative analysis.

Xignite sat down with Stefan Petry, Co-Founder and Chief Operating Officer, to learn more about Quantbench.

Q: Describe the Quantbench platform?

Stefan Petry - Quantbench combines a cloud-based platform for unstructured data exploration and analysis, with a marketplace where investment researchers and fund managers can purchase non-traditional data sets.

The platform includes data sets that we and others provide. Right now our members have access to more standard market data sets such as tick-by-tick and end-of-day stock data, and indices data. In time, we will be adding more and more non-traditional data sets that are sourced from areas like web search, online advertising, news, social media etc. Users can perform analyses using R-Project and Amazon Elastic MapReduce. They can also purchase certain data sets in our marketplace for download and in-house processing.

Q: Describe the technology behind Quantbench and the advantages of Xignite Cloud APIs?

Stefan Petry - Perhaps the most innovative part of our approach is that we make it easy for our users to get up and running quickly. Everything that a financial analyst or data scientist needs to conduct quantitative analysis is instantly available. We are able to achieve this because the technology behind our community is 100% cloud-based. All of the analytical tools, data sets, and infrastructure are on the cloud. This approach also enabled us to launch very quickly, and will allow us to scale efficiently as our community grows.

We use Xignite's market data cloud because it helped us to execute on Quantbench's cloud vision. Xignite's broad data coverage acts as a comparison or benchmark to the other more non-traditional data sets we make available to the Quantbench community. As we expand we will add more Xignite data sets to our platform. Finally, we really like Xignite's simple and transparent approach to purchasing market data. All you need to do is visit www.xignite.com, select the desired data set, place it in the Xignite shopping cart, and then pay using a credit card.

Q: What are Quantbench's future plans?

Stefan Petry - Our platform is still in its early stages. We launched just in November. Broadly speaking there are three areas that we will be focused on in the coming months. First, we will be adding more data sets. This data will include standard data sets, as well as many non-traditional data sets that firms will provide to our user base for quantitative analysis. Second, we will be extending the functionality of our non-traditional data set marketplace. Third, we will be adding more tools and languages, so that our users can perform more powerful analyses.

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