Data Explorers

Data Explorers was a specialist financial information and software company established in London in 2002 by Charles Stopford Sackville and Mark Faulkner, the author of a guide to securities-lending markets. Its business focused on turning securities-lending activity, inventory information, and related market-participant data into quantitative measures for institutional investors and financial intermediaries. The company served two closely related information needs. For the securities-lending industry, it provided benchmarking and analytics concerning lending activity, loan balances, utilization, performance, pricing, and risk. For investment managers, particularly hedge funds and other users of short-side intelligence, its data supplied indicators of borrowing demand, stock availability, short-selling pressure, and investor sentiment. The data was assembled from information contributed by a broad group of market participants, including beneficial owners, lenders, custodian banks, agency lenders, borrowers, hedge funds, and broker-dealers. According to the company description cited in reference material, its database covered approximately $12 trillion of securities held in lending programs operated for more than 20,000 institutional funds. The tracked universe included equities, corporate bonds, and government bonds, with reported average loan balances of about $2 trillion. These figures describe the scale of the dataset rather than company revenue or assets under management. Data Explorers positioned the information as a market infrastructure and research resource rather than as an investment manager or broker. Its product architecture included application programming interfaces, data feeds, Excel toolkits, mobile applications, and web-based analytical platforms. The company also distributed its content through financial-data and workflow providers. Partnerships or integrations involving Thomson Reuters, FactSet, Bloomberg, the Financial Times, Nasdaq OMX, Capital IQ, Deltix, Direct Edge, and other platforms helped make securities-lending information available to professional users and, in some cases, to the broader financial press. Media organizations used Data Explorers information as a proxy or supplementary indicator for short interest and short-side market activity. Data Explorers expanded its presence during the late 2000s and early 2010s. Donal Smith, formerly associated with Thomson Reuters, was announced as chief executive in March 2008. The company developed distribution relationships, sector-sentiment indices, market-data integrations, and automated news products. In January 2012 it introduced an iPhone application intended for hedge funds, prime brokers, and custodians, offering access to daily securities-finance information. It also announced work with Narrative Science on an automated securities-lending newswire. The company received recognition in the United Kingdom and securities-lending industry. It appeared in the 2011 Sunday Times Deloitte Buyout Track 100 ranking of fast-growing private-equity-backed companies, won the GSL Securities Lending Industry Awards' information/data-provider category for a third consecutive year in 2011, received an Emerging Star award at the techMARK awards, and won an Information Provision award for its Data Explorers News service at the Financial World Innovation Awards. Data Explorers was privately owned by Bowmark Capital before Markit announced its acquisition of the company on 2 April 2012. The transaction ended Data Explorers' period as an independent private-equity-backed specialist and brought its securities-lending datasets and analytical capabilities into Markit's broader financial-information business. The later standalone status of the Data Explorers brand is not established by the supplied sources.

Data Explorers was founded in 2002 in the United Kingdom by Charles Stopford Sackville and Mark Faulkner. Faulkner was associated with a published guide to securities-lending markets, and the company's initial specialization was closely tied to the professional securities-finance community. Rather than offering conventional investment products, Data Explorers developed datasets and software designed to measure the activity and economics of securities lending. The company's information was compiled from data supplied by participants across the lending ecosystem. These included beneficial owners, custodians, agency lenders, borrowers, hedge funds, broker-dealers, and other institutional market participants. By aggregating trade, inventory, loan, and availability information, Data Explorers produced measures of lending utilization, performance, pricing, risk, and borrowing demand. The same data could also be used by investment managers and financial journalists as an indicator of short-side positioning and market sentiment. The company expanded its commercial reach during the late 2000s through partnerships with established financial-data and market-technology providers. In 2008, Donal Smith, formerly of Thomson Reuters, was announced as chief executive. In 2009, Data Explorers worked with Thomson Reuters and FactSet to distribute short-side intelligence and securities-finance analytics. Markit introduced a US sector-sentiment index derived from the company's data, demonstrating how the dataset could support investable or analytical benchmarks. During 2010 and 2011, the company continued to broaden distribution. Its content was made available through Bloomberg's professional service, appeared on Financial Times company pages and stock-screening tools, and supported initiatives involving Nasdaq OMX, Deltix, Capital IQ, Direct Edge, and other financial-information platforms. The company also developed products beyond conventional feeds and databases, including web platforms, APIs, Excel tools, and mobile access. Its data became visible outside the specialist securities-lending market because major financial publications used it as a source for short-selling and stock-borrow activity. Data Explorers' growth was recognized in several industry rankings and awards. In 2011 it was included in the Sunday Times Deloitte Buyout Track 100 ranking of rapidly growing UK private-equity-backed businesses. It also won the GSL Securities Lending Industry Awards' information/data-provider category for the third consecutive year, received an Emerging Star award at the techMARK awards, and won an Information Provision award for its Data Explorers News service at the Financial World Innovation Awards. In January 2012, Data Explorers announced cooperation with Narrative Science to produce a securities-lending newswire using automated text-generation technology. Later that month it launched an iPhone application for hedge funds, prime brokers, and custodians, giving users mobile access to daily securities-finance information. These initiatives reflected the company's effort to make specialist market data available through faster, more automated, and more portable formats. Bowmark Capital owned Data Explorers before Markit announced its acquisition on 2 April 2012. The deal transferred the business from its private-equity owner to a larger global financial-information company. The supplied references do not establish whether Data Explorers continued as a distinct operating brand after the acquisition, so its current standalone status is left unresolved.

1. 2012Markit acquires Data Explorers

   Markit announces the acquisition of Data Explorers from Bowmark Capital.

   Source
2. 2011Recognition in UK growth and industry awards

   The company appears in the Buyout Track 100 and receives several information, technology, and securities-lending industry awards.

   Source
3. 2009Expansion of data-distribution partnerships

   Data Explorers announces arrangements with Thomson Reuters and FactSet and supports a Markit sector-sentiment index.

   Source
4. 2008Donal Smith becomes chief executive

   Donal Smith, formerly associated with Thomson Reuters, is announced as chief executive.

   Source
5. 2002Data Explorers is established

   Charles Stopford Sackville and Mark Faulkner establish the UK securities-lending data and software company.

   Source

A specialist institutional-data provider translating securities-lending and borrowing activity into benchmark, risk, performance, short-interest, and investor-sentiment intelligence.

• Securities-lending databaseFinancial market data

  The core database aggregated trade, inventory, lending, and borrowing information from institutional securities-finance participants. It covered equities, corporate bonds, and government bonds and supported analysis of lendable supply, loan balances, utilization, borrowing demand, pricing, performance, and risk.

• Data Explorers NewsFinancial news and analytics

  Data Explorers News was an information service focused on securities lending and short-side market developments. It was recognized at the 2011 Financial World Innovation Awards, and the company later pursued an automated newswire project with Narrative Science.

• Data Explorers iPhone applicationMobile financial software2012

  Launched in January 2012, the iPhone application gave hedge funds, prime brokers, and custodians mobile access to daily securities-finance information and transaction-related data.

• Data feeds, APIs, and Excel toolkitsData-delivery tools

  Data Explorers delivered its information through APIs, data feeds, spreadsheet tools, and web-based platforms. These formats allowed professional users to incorporate securities-lending measurements into research, portfolio analysis, risk workflows, and other financial systems.

• 2012Sale of Data Explorers to MarkitM&A

  Data Explorers had operated as a private-equity-backed specialist owned by Bowmark Capital and had developed a substantial securities-lending information business.

  What changed. Markit announced on 2 April 2012 that it would acquire Data Explorers from Bowmark Capital.

  Aftermath. The transaction placed Data Explorers' securities-lending datasets and software capabilities within Markit's broader financial-information operations. The supplied sources do not specify the purchase price or the subsequent standalone brand structure.

  Source
• 2012Launch of mobile securities-finance accessProduct launch

  Professional users increasingly required timely access to market information outside desktop research systems.

  What changed. Data Explorers launched an iPhone application for hedge funds, prime brokers, and custodians, providing daily securities-finance information.

  Aftermath. The launch extended the company's specialist data products into mobile delivery. No adoption or revenue figures are provided in the sources.

  Source

• 2012Markit agrees to acquire Data Explorers

  Markit announced the acquisition of Data Explorers from Bowmark Capital, bringing the securities-lending data specialist into Markit's financial-information business.

  M&A
  Source
• 2011Nasdaq OMX announces index based on Data Explorers stock-loan information

  The proposed index used stock-loan data and excluded securities considered insufficiently liquid or relatively costly to borrow.

  Product launch
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• 2011Data Explorers receives industry and technology awards

  The company won the GSL information/data-provider award for a third consecutive year, received the techMARK Emerging Star Award, and won an Information Provision award for Data Explorers News.

  Other
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• 2010Bloomberg partnership extends Data Explorers fund-flow content

  Data Explorers announced a partnership to provide global long- and short-fund-flow content to users of the Bloomberg Professional Service.

  Other
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• 2010Financial Times adds Data Explorers short-selling activity

  The Financial Times incorporated Data Explorers short-selling information into company pages and its stock-screening tools.

  Other
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• 2009Thomson Reuters partners with Data Explorers on short-side intelligence

  The partnership was intended to provide investor-relations professionals with securities-lending and short-side information.

  Other
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• 2009FactSet adds Data Explorers securities-finance information

  FactSet and Data Explorers announced an arrangement to make short-selling analysis and securities-finance data available through FactSet's analytics platform.

  Other
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• 2009Markit launches a Data Explorers-based US sector sentiment index

  The index used securities-lending and short-selling information to represent sentiment at the sector level.

  Product launch
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1. Data Explorers