FactSet and Quantopian have partnered to launch a data analysis solution called Quantopian Enterprise that allows quantitative financial analysts to research and test their investment strategies.
Quantopian Enterprise combines Quantopian’s technology and data from the Open:FactSet Marketplace, allowing clients to simulate how investment algorithms will perform.
According to FactSet, investors will have immediate access to a ready-built research and testing environment, reducing the ramp-up time experienced with traditional platforms.
They will also gain access to the financial data, computing resources, and tools they need to create and improve their investment strategies.
FactSet’s alliance with Quantopian follows the launch of the Open:FactSet Marketplace and continues the company’s expansion into open data solutions.
Rich Newman, senior vice president and global head of content and technology solutions at FactSet, said: “New data sources are growing rapidly, but the tools needed to capitalise on them are not coming to market at the same pace.”
He added: “Our work with Quantopian will give clients a powerful platform that addresses the need for better quantitative resources. Access to data alone is simply not enough.”
John Fawcett, founder and CEO of Quantopian, commented: "With Quantopian Enterprise, quants now have the opportunity to research, craft, and test their investment strategies with even more speed and flexibility. We are providing them with the tools, the data, and the environment they need to help reshape how data is used in the investment industry."
He added: “This innovative partnership with FactSet, and the access to data on this scale that it represents, has never been done before. This collaboration brings incredibly deep data sets and tools together in a ready-to-go application. It means quants can quickly turn their ideas into real-world strategies at a pace not before possible. This is truly a win-win for the Quantopian community and users of the new Quantopian Enterprise.”
Caroline Sherman, vice president of product strategy, said: “No longer will quants have to struggle through outdated software and incompatible data sets and tools."
She added: “By simply logging on to the platform, one has access and the ability to create a strategy faster than before with up-to-the-minute data from across the globe. As someone who has worked in quantitative finance and analysis for more than a decade, this is a huge step forward.”
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