TECHNOLOGY

RSRCHXchange signs up to JP Morgan-backed desktop firm

OpenFin provides desktop applications to both buy- and sell-side trading platforms.

By Hayley McDowell hayley.mcdowell@strategic-i.com May 16, 2017 11:15 AM GMT

RSRCHXchange has joined desktop application firm OpenFin as a partner and is now developing its own application for analytics and research assessment.

The RSRCHXchange application on OpenFin provides the option to move away from a web browser to a desktop application for a better user experience.

Vicky Sanders, co-founder of RSRCHXchange, explained with MiFID II just around the corner, connectivity will ultimately allow the industry to join the dots and link together multiple MiFID II services.

Jeremy Davies, also co-founder at RSRCHXchange, added: “Leveraging OpenFin in this way is one of several developments that we have been working on to build out our connectivity for our customers and providers.”

OpenFin operates as a common layer for desktop applications and it is used by 35 of the world’s largest banks and trading platforms.

JP Morgan and NEX Group were among several large institutions to have invested $15 million in OpenFin in February this year.

JP Morgan’s chief administrative officer, Sanoke Viswanathan, said at the time a critical component of OpenFin’s success is their open source technology.

“Some of the most successful tech companies are combining proprietary technology aimed at fuelling business growth with an open source, shared technology framework that gets better with contributions from the broader community,” he explained.