DC Thomson, one of the largest private media organisations in the UK, is partnering with Electronic Research Interchange (ERIC) to develop its bespoke investment research offering for the post-MiFID II world. This transaction will see DC Thomson acquire a material stake in ERIC.
The partnership will enable ERIC to create tailored research solutions for both investment managers and research providers, using DC Thomson’s digital publishing experience to source and deliver quality research content that caters to their specific needs. ERIC has chosen a non-financial services industry partner to retain the independence of its proposition and to benefit from DC Thomson’s indexing technology and expertise. As a new industry of investment research platforms emerges, ERIC’s business model will enable its users to trade information securely.
With the MiFID II implementation deadline fast approaching, a number of DC Thomson’s staff will work on the ERIC platform to implement specific, individual manager and research provider requirements. The deal will provide the functionality to create advanced search solutions for a library of content capable of adding more than 200,000 research documents on a daily basis, allowing ERIC to manage the efficient processing of the research output of the world’s largest research providers.
The project will benefit from further technical resource from DC Thomson Group businesses including Findmypast, the online genealogy service which has searchable indexes of billions of records.
Russell Napier, co-founder of ERIC, says: “We are delighted to partner with DC Thomson to bring both buyers and sellers of investment research world class digital publishing expertise. DC Thomson’s support allows ERIC to retain a vital independence of ownership in a marketplace where transactions need to be highly confidential. This partnership allows ERIC to offer both off the shelf and bespoke solutions for an industry needing to become MIFID II ready.’
Christopher Thomson, Deputy Chairman of DC Thomson: “ERIC has forged an excellent position as a hub for unbundled investment research. We want to take the platform to the next level with our experience in search, payments and document processing. We look forward to working together to build the ERIC marketplace as the number one destination for the buyers and sellers of research in the move to be MIFID II ready.”
Malcolm Dobson, Group Chief Technology Officer at DC Thomson: “The investment research marketplace is a dynamic space that will undergo significant transformation over the next twelve months. Technology will underpin the solutions that enable investment managers to improve the quality of investment information they access. We are excited to provide the technical support to underpin ERIC’s specialist understanding of the research marketplace.”