RSRCHXchange, the MiFID II compliant marketplace for institutional research, today announced that industry veterans Adam Toms, former CEO of agency broker Instinet Europe, Don Guiney, senior capital markets partner at Freshfields, and Michael McFadgen, Managing Director at Euclid Opportunities, NEX’s fintech investment division, have joined the RSRCHXchange board.
In addition, Alan MacDonald, former Head of International Equity Research at Nomura and Head of Global Research at UBS, has joined RSRCHXchange. Alan brings 30 years of industry experience and will be instrumental in shaping sell-side relationships for RSRCHXchange over the coming years.
The appointments follow only a week after RSRCHXchange secured its series A funding from Euclid Opportunities, NEX’s financial technology investment business.
RSRCHXchange launched its MIFID II compliant workflow solution and marketplace for institutional research in 2015, in anticipation of the MiFID II unbundling rules coming into force in January 2018, and is used by more than 1,000 asset management firms and around 190 bank, broker & boutique research providers. The RSRCHX platform enables asset managers to consume, purchase and monitor research in one purpose-built solution, while tracking firm-wide consumption, improving the procurement process and ultimately ensuring MiFID II compliance. Research providers can take greater control over distribution with the RSRCHX platform, benefitting from access to a growing community of global buy-side firms and taking advantage of the marketplace to monetise the value of their research, all in a MiFID II compliant way.
Vicky Sanders, Co-Founder, RSRCHXchange said: “We are very excited to welcome some of the industry’s leading experts to our board. Adam Toms, Don Guiney and Michael McFadgen will bring invaluable insights, expertise and advice to our strategic development. We are delighted that Alan MacDonald has also joined the business. Their senior leadership in the fields of commission unbundling, capital markets, technology and research, in addition to Euclid’s recent investment, will ensure that we continue to invest back into the market we serve, into developing the RSRCHX platform for the benefit of both asset managers and research providers.”
Jeremy Davies, Co-Founder, RSRCHXchange, added: “In conjunction, the experience of industry heavyweights in equity research and unbundling, and the financial backing by an investor with a strong track record in supporting early stage businesses that transform capital markets, set RSRCHXchange on an accelerated growth trajectory as the industry approaches the MiFID II deadline.”