What is a market data platform?
The financial information provided by these platforms can support companies, traders, and investors in several profitable ways. Market data helps with monitoring departments, financial forecasting, enhancing customer service, identifying and controlling problems quickly, and forming effective decisions. Having proper access to market data will also scale down costs and improve your business’s overall performance.
The world of finance is intricate and it’s crucial to do research before selecting a data provider. The ideal market data platform should offer legally sourced data, powerful technology, useful resources, and enable clients to focus on their core business and long-term growth. In this article we’re going to discuss the terrific qualities that make up a successful market data platform.
What makes a great market data provider?
There are many aspects to consider when choosing a market data provider. The first major element to examine is in regard to the quality of data. A great market data platform will be able to provide clients with accurate data that is also easily accessible. Market data providers such as Intrinio offer the highest level of market data, along with multiple efficient financial data access methods. Intrinio’s market data plans include real-time snap and streaming equity prices, 15-minute delayed snap equity prices, real-time and delayed stock options prices, and historical end of day US stock prices.
The Intrinio Web API method works with all data feeds and is perfect for intraday, delayed, or EOD market data.
Intrinio’s WebSocket API works with real-time market data and continuously streams the real-time price of a security.
The direct database access method works with most data feeds and permits you to scan terabytes of data within seconds.
Intrinio’s bulk file downloads work with historical data and is available for download in CSV format.
The second major aspect to consider when selecting a market data platform are costs. A great market data provider shouldn’t be cheap but not necessarily expensive either. Intrinio’s data packages are priced competitively and offer clients flexible pricing plans based on their needs. There’s also no per-user fees, “everyone gets unlimited internal users and unlimited internal and external display rights for our equity market data.” And always keep in mind that, “buying bad data is an expensive mistake with ramifications extending beyond the cost paid for the data…use only the most reputable sources when purchasing data.”
The third major element to consider before selecting a market data provider is whether the platform has reliable customer and technical support. Picking a platform that doesn’t offer any support or escalation methods is a bad idea and will only hurt your business. Platforms such as Intrinio are known for their incredible customer and technical support team. Clients are treated like partners from the moment they join the platform. And every client can expect immediate technical assistance regardless of the issue along with a dedicated customer success manager. Intrinio’s support team is always ready to answer your questions and guide your business.
Another element to explore when choosing a market data vendor is the additional services offered. Unlike traditional data providers, Intrinio offers co-marketing opportunities to their clients. When you partner with Intrinio, your business will have the chance to be featured and promoted across their social media networks, blog, and website.
Intrinio’s Co-Marketing Opportunities
Why are market data platforms gaining popularity?
Market data platforms have gained so much popularity throughout the years for a few reasons. For starters, these platforms give clients the chance to make accurate decisions and allow clients to respond and handle situations immediately. Buying up-to-date market data also helps with reducing operational costs and leads to positive business growth.
Where to find the best market data
Does your business or platform need access to clean market data? Intrinio is a leading market data provider that supplies fintech platforms and businesses with advanced tools, financial data, customer support, and additional market data solutions. Get in touch with one of our data experts today to explore our powerful access methods and comprehensive data packages. And remember, having proper access to the best stock market data is a competitive advantage that every business and investor should take advantage of. Learn more about the ways you can access our market data at intrinio.com.
Image and article originally from intrinio.com. Read the original article here.