Refinitiv Quant Data Available on Snowflake
Posted by Colin Lambert. Last updated: May 2, 2022
Refinitiv and Snowflake have announced an agreement that allows for the former’s suite of quantitative data to be made available on Snowflake’s Financial Services Data Cloud.
Refinitiv Quantitative Analytics on Snowflake offers a platform to manage, maintain and integrate quantitative analysis and investment data. The platform delivers a repository of 60+ financial data, quantitative alpha models and other third-party and alternative data sets. The system integrates the disparate data sets by mapping across multiple identifiers, concording and normalising the data, and adjusting for corporate actions, allowing customers to explore how their investment hypothesis performs under a broad range of market conditions.
It also handles continuous content updates in its database 24/7, removing the administrative burden from customers, Refinitiv says. Proprietary data can also be integrated to sit alongside both third-party and Refinitiv content. This content includes Datastream Pricing (Equity & Index), I/B/E/S Estimates, Worldscope Fundamentals, and StarMine Models, as well as ESG data for sustainability and ethical conduct metrics.
The announcement means that asset managers and hedge funds can now access Refinitiv quant data alongside existing Snowflake vendor and proprietary data on Snowflake’s Data Cloud, which is configurable to run across numerous AWS and Azure cloud regions.
The firms says that quant researchers are freed from the burden of managing data infrastructure and can spend more time developing and testing investment strategies, optimising portfolios, managing risk, and accessing and onboarding new datasets. They can also leverage Snowflake data sharing capabilities to drive collaboration between teams, partners and customers, who now have quicker on-boarding, faster delivery of updates, the removal of cost associated with servers and database maintenance, and a scalable solution to meet their performance requirements.
“Our clients require solutions that help speed and simplify the data intake and concordance process,” says Austin Burkett, head of quantitative analytics and content, Refinitiv. “Our Quantitative Analytics service is a trusted and longstanding offering in the market, and its delivery through Snowflake magnifies its value to our mutual clients.”
Matt Glickman, financial services industry principal for Snowflake, adds, “The Snowflake Data Cloud enables financial services customers to seamlessly discover, access and collaborate with data without the traditional data movement challenges resulting in faster insights and decision making.”