How does SQX Solve Common Problems with Market Data Vendors?
Does a Helpful Data Vendor Exist?
If you need high-quality market data, you know from experience how unpleasant it can be to find. It’s expensive. It’s specialized. It’s inconvenient. Unfortunately, most market data vendors are part of the problem. Between endless red tape, skyrocketing expenses, restrictive options, and interminable delays, you could be forgiven for despairing of ever finding a helpful data vendor.
But don’t lose hope. Not all market data vendors are created equal. At SQX, we’re not like the rest. Our priority is you, and we’ll make sure you find a way to get what you need—with a lot less hassle, time, and money. But how does SQX compare to other data providers? Let’s talk specifics.
High Value, Low Cost
When it comes to subscriptions costs, the difference is elementary. Other market data vendors have high prices. SQX has low prices. If other data providers were offering a better product, charging a lot more might be understandable. But here’s the problem: they aren’t. In every scenario, SQX data coverage is at least as good (and sometimes better) than the coverage of other providers.
SQX offers a product that is the same or better at a fraction of the cost you’ll be charged by other market data vendors. Equal quality for a significantly lower price? That’s a pretty good deal.
Client-Centered Customization Options
A major issue with market data providers is their often-limited customization options. Many data vendors seem to think you’re working for them, not the other way around. They’ll expect you to accept whatever file format they see fit to give you. They’ll force you to bend over backwards to integrate their data into your system, giving you another annoying task to accomplish.
SQX is different. Unlike many financial data providers, we deliver our data in whatever file format works best for you—tailoring our files to fit your needs. SQX clients receive data delivery via SFTP or API—whichever you’d prefer. Instead of wasting your IT department’s time with backend configurations, you’ll be able to focus your resources on achieving your core mission. With SQX, you’ll save time, energy, and effort. Why? Because at SQX, we remember that we’re the ones working for you.
Crystal-Clear Transparency
When it comes to birthday or Christmas presents, it can be fun to get something mysterious. When it comes to financial data, not knowing what you’re getting is deeply unsettling. When you get your data from the big market data vendors, you’re handed a number, but you can’t find out how that number was created—you have to blindly trust that it’s the right price.
That’s not how we do things at SQX. Christmas presents from us have clear wrapping paper. We’re committed to complete transparency, meaning you know exactly how the price you receive is created. We’ll provide you with the full rationale behind our prices, including the data it’s based on. If we used a peer bond, we’ll tell you. If we used a bid or offer, we’ll explain it.
This sort of information is perfect for audits. If a price challenge comes your way, you don’t need to lose sleep—you can rest easy knowing that SQX keeps an extensive audit trail. When you partner with SQX, you’ll always be in the know.
Responsive Technical Support
If you are experiencing a technical issue, and you reach out to other financial data providers, what can you expect? The answer is invariably the same: slow service, impersonal responses, and long delays. You can count on being treated like a number on a screen, not like an actual human being. The big data vendors just don’t have the capacity to address your needs in a timely way.
The most dramatic way that SQX differs from other financial data vendors is also the simplest. We’re actually friendly. It doesn’t matter what the problem is—we’re always welcoming and easy to reach. What’s more, if you reach out to SQX, you will always hear back from us within a business day—no matter what. We’ll treat you like you actually matter—because you do.
Choosing the Right Vendor
When it comes to fulfilling data needs, choosing the right vendor is incredibly important. While many providers may seem similar on the surface, small differences can mean the difference between a satisfying partnership and a tension-filled one. For a market data vendor that offers transparent, top-quality data at the best prices—while also respecting you and prioritizing your needs—consider partnering with SQX. That’s a decision you won’t regret.
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