NEX Group, (formerly Icap), invested in a RSRCHXchange, a London-based startup that runs an online marketplace for research on stocks, Markets in Financial Instrument Directive (Mifid II) and pressure on asset management fees spur innovation in the equity research sector.
Interdealer broker NEX Group Plc, formerly known as Icap, has invested in a RSRCHXchange, a London-based startup that runs an online marketplace for research on stocks, as regulatory changes in Europe and pressure on asset management fees spur innovation in the equity research sector. The investment, led by NEX Group's venture arm Euclid Opportunities, was announced by the companies on Thursday, but the terms of the deal were not disclosed. The company will use the injection of cash develop the platform and expand its team, said Vicky Sanders, co-founder of RSRCHXchange.
