U.S. startup Airex offers investors à la carte financial data
By Lauren Tara LaCapra
NEW YORK Feb 24 (Reuters) - A U.S. startup called Airex Inc is launching an online marketplace for investors to buy data and research à la carte from providers including Deutsche Bank, FactSet, Morningstar, Mercer, Nasdaq and S&P Capital IQ, company officials told Reuters.
Its Airex Market website is targeting small investors who do not have a budget for subscriptions to Bloomberg LP, Thomson Reuters Corp and other major data providers, said Chief Executive Stephen Kuhn.
It is also trying to woo large Wall Street firms that want to lower the cost of managing multiple vendors, he said. Customers can access a broad range of products without having to negotiate contracts and haggle over price with each one.
"They'll have access to products they didn't have access to before, they couldn't afford, or just didn't know existed," said Kuhn.
Airex is the latest upstart trying to address complaints on Wall Street about having to get information from too many providers at too high a price. Another startup called Symphony, backed by Wall Street banks, is trying to address the same issues.
Airex is unrelated to the Japanese technology firm Airex Inc and also unrelated to the Canadian heating, ventilation and air conditioning company Airex Inc, said spokesman David Zweifler.
Analysts have said that information providers are wary of doing business with startups who could eventually undercut them. Kuhn says Airex will not compete with companies like Bloomberg or Thomson Reuters because of its focus on à la carte offerings.
Kuhn noted that Deutsche Bank AG is making its stock research available on Airex Market for $11.50 per page. In the past, only institutional clients of Deutsche Bank could get access to those reports. Continued...