Emma Data
We will build a platform for stock exchanges in the developing and emerging markets to sell their data on. For data buyers it will provide one click access to data from 90% of developing market exchanges removing the need to form a relationship with each exchange. For exchanges it will provide access to many buyers in exchange for a 5% fee and agreement that prices for data on the platform will be matched to prices for data sold by exchanges directly to customers. A special focus will be made to provide clear documentation for easy, engineer friendly onboarding.
Background
Since 1975 the number of countries with atleast one stock exchange has grown substantially from 53 to 165 today. Accessing the market data these exchanges produce in a time efficient manner is one of the most expensive problems individual investors, hedge funds and investment banks face.
The top 60 stock exchanges are home to 93% of stock value and the top 16 exchanges which comprise the trillion dollar club (exchanges with total stock value over a trillion dollars) account for 87% of stock value.
The current size of the three market segments we plan to compete, when combined, is $23 billion. In Real-time and Trading Data ($14 billion) Bloomberg is the largest player with 39% of the market and the top 5 players control 82%. In News Aggregation ($2 billion) Bloomberg is the largest player with 14% of the market and the top 5 players control 40%. In Pricing, Reference & Valuation ($7 billion) Factset is the largest player with 29% and the top 5 players control 76%.
Opportunity
Our platform will provide one click access to get data from every exchange our clients need data from. Clients will save engineering time communicating with exchanges by accessing data from additional exchanges without additional setup. Clients can expect price transparency from day one with clear pricing for each data channel a stock exchange provides shown on the public site without the need to login. Clients will be able to track api usage and spend from a clear dashboard. Our api will be friendly to our clients’ software engineers with documentation for each data channel provided on the public site with example functional code snippets. Where possible we will aim to provide data in a standardised format to minimise customisations required on client’s systems. What is more, we will integrate with brokers to provide a full fee comparison for each security to help clients save money.
Next Steps
Q4 2024 - We will provide a free informational API consolidating public information about 100 exchanges with atleast 10 verified by the exchanges themselves. We will be the centralised authority for information on stock exchanges. We will partner with 2 potential clients and 2 suppliers to become early adopters and develop our vision. We will build an advisory board of 6 people drawn from both our customers and suppliers as well as people of influence.
Q2 2025 - We will have 2 exchanges live selling data and 5 customers. We will have £1000 in revenue from £20,000 in data sold. We will grow our advisory board to 12 industry veterans and people of influence.