New York and Boston - Markit, the provider of financial information services, has announced a new data agreement with FinTech Sandbox, a nonprofit that helps FinTech startups access data and build products.
Markit will provide startups participating in FinTech Sandbox's program with access to certain of its fixed income pricing and reference data, as well as its index, securities finance, equity volatility and exchange-traded products (ETP) data.
"We strongly believe that our support of entrepreneurs in the vibrant global FinTech community will benefit the industry overall," said Ed Chidsey, global head of Pricing and Reference Data at Markit. "Innovation is at the core of our business and we look forward to collaborating with Sandbox and engaging with their early stage companies as they define and refine their business models."
"Access to the breadth and depth of Markit's data will give startups in our program a significant boost in creating and developing products to meet the rigorous standards of large financial institutions." said Jean Donnelly, executive director of FinTech Sandbox.
FinTech Sandbox facilitates free access to financial data and infrastructure for highly qualified FinTech startups. The Sandbox doesn't charge fees or elicit equity from residents who are selected into the program. Instead, residents are expected to collaborate with each other in order to share learning and promote advances that benefit the entire FinTech ecosystem. The six-month program includes:
- A set of data feeds and APIs from a wide array of data partners
- Cloud hosting from infrastructure partners
- Learning, networking, and collaboration opportunities in a dynamic FinTech community.