Edited to reflect product name change from Universe+ to QX Digital.
JERSEY CITY, N.J., May 24, 2023 /PRNewswire/ -- QUODD, a comprehensive market data on demand provider for the global financial services industry and a NewSpring Holdings platform company, is pleased to announce the addition of the Principal Financial Group to its growing list of QX Digital clients.
QUODD's QX Digital is an API-based cloud platform that delivers comprehensive security pricing, reference data, and analytics across all asset classes, integrating mutual fund, equities, and fixed income pricing data. It is a fit for purpose middle to back-office research tool. "The direct feedback from wealth management servicing firms is that the functionality and features of the current market data terminals are too broad, too expensive and not targeted to the workflow needs of the middle and back-office employee," said Bob Ward, CEO of QUODD. "Principal's adoption of QX Digital is a proof point to this sentiment and we look forward to working with them to deliver future enhancements to the QX Digital workflow."
"[QX Digital] has allowed us to scale our business with our increasing need for timely and accurate data. The cloud-based solution allows us to work remotely while accessing consistent data sets and maximizing operational efficiencies," said Brandon Sparks, Fund Accounting Sr. Manager at The Principal Financial Group. "From corporate actions to pricing and more, we've been able to integrate processes and automate them for a streamlined workflow using QX Digital. The QUODD team continues to innovate the product and are truly great partners."
Serving as a cornerstone application of QUODD's digital experience, QX Digital provides the ability to monitor ongoing price fluctuations, pull data on demand like reference data and corporate actions, manage price validations and initiated price challenges. The resulting solution enables on-demand market data consumption that cuts across all business lines, functional areas, and operational workflows for a fit-for-purpose middle to back-office tool.
"With [QX Digital], we have brought global market data content to a user's fingertips for online display and download. There is a major focus on continuous innovation for self-service usage, programmatic access, and fine-grain billing transparency for institutions such as Principal," said Justin Van Til, Head of Strategy at QUODD. "Principal's usage across teams and their User Group feedback has been instrumental in ensuring that the platform innovation lets users consume what they want and when they want it in the delivery output of their choice."
About QUODD
QUODD delivers reliable and comprehensive market data on demand to the global financial services industry. QUODD fuels wealth servicing users across banks, broker dealers, insurance companies and fin techs the ability to stream, embed, look up, or download pricing data for global equities, fixed income, indices, options, futures, and end-of-day pricing for global mutual funds spanning. Monitoring more than 150 global exchanges and tracking trillions of transactions with a 99.999% up time, QUODD is the modern market data resource you can trust. Learn more at http://www.quodd.com/.
About NewSpring Holdings
NewSpring Holdings, NewSpring's dedicated holding company with a strategy focused on control buyouts and platform builds, brings a wealth of knowledge, experience, and resources to take profitable, growing companies to the next level through acquisitions and proven organic methodologies. Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $2.5 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. Visit NewSpring at www.newspringcapital.com.
