FactSet is set to acquire fintech BCC Group (bccg), in a move which will strengthen FactSet’s market data management capabilities.
The transaction will integrate bccg’s ONE Platform solution into FactSet’s Real-Time Solution suite and is expected to bolster FactSet’s current market data portfolio.
Specifically, the acquisition aims to provide clients with an open ecosystem combining governed access, API-first integration, flexible deployment and a managed solution.
Speaking to The TRADE, Brian Herte, global head of market data and trading at FactSet, said: “Real-time is a strategic priority for capital markets firms today, and pairing bccg’s modular platform, built for how the market is evolving, with FactSet’s more than 25 years of premium, trusted real-time content, gives those clients the data, performance and flexibility they need.
“What I think is great is that we have already proven this together. This acquisition will allow us to combine bccg’s scalable, flexible platform with the scale, power and breadth of FactSet’s solutions and white glove service. This isn’t just about solving today’s data challenges. It’s about leading how enterprise data solutions get built over the next decade.”
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The deal is also expected to address hidden costs derived from legacy market data infrastructure and monolithic systems used across the industry, by better aligning with shifts towards 24/7 operations, AI workflows and changing regulation.
FactSet and bccg initially partnered in 2021, and the acquisition will see both firms collaborating to provide a single partner for both market data content and infrastructure.
“By combining bccg’s leading cloud-native market data distribution technology with FactSet’s comprehensive data and managed services, we can give financial institutions a genuinely source-neutral alternative to today’s lock-in,” added Mauricio Gonzalez Evans, chief executive of bccg.
“Openness and choice across the data ecosystem sit at the heart of that vision.”