Blackstone (BX) today announced an investment in Market Data Insights LLC (MDI), a services firm that specializes in providing market data management solutions to financial services firms.
MDI's business model for the delivery of market data management solutions addresses many of the shortcomings of traditional approaches. MDI's solutions are delivered by people with a deep understanding of market data products and client needs. By requiring short term commitments, MDI simplifies the buying decision and is able to identify savings for many clients that offset the cost of their outsourced service.
William Murphy, Chief Technology Officer at Blackstone, said, "We have worked with Market Data Insights to optimize the managed service model, which allows MDI to deliver the perfect combination of services, in a low-impact, cost-efficient manner for each client. The key to long-term success is creating a one-team culture between MDI and their clients; at Blackstone, MDI is an extension of our team and delivers incredible value. Blackstone's investment reflects our confidence in MDI as well as our expectation of the company's continued growth and success."
Richard Sigillo, Chief Executive Officer of MDI, said, "Blackstone's investment in Market Data Insights is a validation of the relationship we strive to forge with all of our clients. We listen to what they really need and act on it. Our ability to 'Right Size' our service delivery for each client, while leveraging our time-tested and validated core methodologies, enables us to deliver high value solutions. The approach has been well received by the market."