QUODD, a comprehensive market data on-demand provider for the global financial services industry and a NewSpring Holdings platform company, today announced that Double Finance (Double), a direct indexing brokerage platform based in San Francisco, sees continued success with QUODD's QX Marketplace as its primary market data source.
Double leverages QUODD's comprehensive financial data services to power their innovative direct indexing platform, which is revolutionizing investing by allowing users to break down ETFs into customizable components. Double performs daily portfolio optimizations across their platform, analyzing all client portfolios to evaluate optimal trades, tax consequences, and rebalancing opportunities — all of which depend on having reliable, up-to-date data.
Double's selection of QUODD was driven by several key factors, including comprehensive market data coverage, reliable uptime, ease of conversion, and the flexibility to meet current and future market demands. QUODD's robust fundamentals data and accurate corporate actions information are essential for Double Finance's most popular investment strategies.
"QUODD has proven to be the most robust and reliable data provider," said JJ Maxwell, Double's founder and CEO. "Their level of uptime as a SaaS business has been remarkable compared to everyone else we've worked with, which is crucial when we're analyzing portfolios daily for optimal trades and tax consequences."
As Double Finance scales, the value of QUODD's comprehensive catalog eliminates the need to juggle multiple vendors or navigate additional contracts. QUODD's dependable, all-in-one solution has been instrumental in propelling Double Finance to surpass $22 million in assets under management within just six months of launching publicly.
"When building trust with customers in fintech, reliable data is absolutely core to our business," said Maxwell. "Being able to get accurate fundamental and price data is critical for investors to trust our platform with their money. That's why we partnered with QUODD — we needed a proven, reliable name in the space, even if there were cheaper alternatives."
"We're proud to serve as Double Finance's strategic data partner, delivering the market data to fuel their innovative investment platform," said Bob Ward, CEO of QUODD. "Supporting their current and future needs aligns perfectly with our client-centric approach. As Double Finance continues to push the boundaries of modern investing, they inspire us to keep evolving alongside them."
About Double Finance
Double is an investment platform that allows clients to invest in 50+ broad stock market indexes with no AUM fees. Unlike traditional financial advisors or ETFs that charge a fee based on a percentage of assets, Double charges a flat $1/month. Double works by buying fractional shares of the individual stocks that make up popular indexes (SPY, QQQ, etc.), allowing for customization and tax-loss harvesting. For more information about Double Finance, visit https://double.finance/.
