The Crux Ftz Is a Free Service Designed To Reduce the Time and Effort for Suppliers and Consumers to Contract for Data Subscriptions of All Types
NEW YORK, NY / ACCESSWIRE / April 15, 2021 / With the rapid growth and diversification of financial, ESG and other market data available from traditional and alternative data suppliers, the Crux Free Trade Zone ("FTZ") enables participants to manage data licenses by reference to a standard agreement that avoids lengthy, and often costly, contractual negotiations typically arising between data suppliers and consumers. The desire for consumers to quickly evaluate new data sources and reduce the contracting time for activating data subscriptions has been a pervasive bottleneck for large and small financial services teams in the industry. As more and more data suppliers and consumers use the Crux FTZ, data can be more seamlessly evaluated and onboarded, making it flow more quickly, creating a win-win for suppliers and consumers alike.
"It's no secret that dataset contracting can be one of the slowest and most tedious points of friction in accelerating data consumption," said Will Freiberg, CEO of Crux Informatics. "The Crux FTZ is a natural extension of our vision to provide solutions aimed at improving the flow of data from suppliers to end-users. FTZ participants can simply use the FTZ standard licensing agreement for all data types, agree applicable fees on a confidential basis, and get the data flowing more efficiently."
The Crux FTZ is available, without charge, to any supplier and consumer participants. FTZ participants no longer need to negotiate individual legal terms and conditions, but instead can focus on agreeing commercial terms and consuming the data as soon as possible. The Crux FTZ is accessible via https://www.cruxinformatics.com/crux-free-trade-zone and Crux Discover, a powerful and flexible metadata browser that enables users to quickly navigate and explore all the datasets that suppliers are delivering via Crux and easily view those that align with their investment philosophy.
"As a consumer of a substantial range of financial and market data, from traditional to alternative suppliers, we appreciate Crux's efforts to streamline the contracting process through the Crux Free Trade Zone," said Adam Salem, SVP of Technology and Portfolio Implementation, AllianceBernstein. From a data mastering provider's perspective, "the Free Trade Zone provides greater opportunity to bring our data assets into the hands of end-users more rapidly and avoids multiple contract negotiations which can be burdensome and inefficient," said Matt Holzapfel, Head of Corporate Strategy, Tamr. And for new ESG providers such as Earthmetry, "we are able to bring ESG insights to our customers through Crux, creating greater visibility for Earthmetry and faster uptake for our datasets," said Gautum Pradhan, Co-Founder.
In just a short time since sharing with our community, more than 20 suppliers and consumers have signed up to leverage the Crux FTZ and we expect to expand that number substantially.
For more information, please contact James Salitan, Chief Legal Officer, Crux Informatics, Inc., [email protected].
About Crux Informatics, Inc.
Crux is a data engineering company that helps organizations scale their most critical data delivery, operations, and transformation needs. Our cloud-based technology stack and managed services enables you to reliably get the data you need, how you need it and where you need it. We deliver over 14K datasets from hundreds of sources into your preferred destination at a low cost, with custom validations and transformations, and at a consistently high-level of service and security. Crux was founded in 2017 by financial technology veterans and is backed by Citi, Goldman Sachs, Morgan Stanley, and Two Sigma, among others.
SOURCE: Crux Informatics