Nasdaq announced this week it has acquired Quandl, a Toronto-based provider of alternative and core financial data.
Quandl provides alternative data and core financial data from over 350 sources to more than 30,000 active monthly users.
The company offers a global database of alternative, financial and public data, including information on capital markets, energy, shipping, healthcare, education, demography, economics and society.
Nasdaq plans to combine Quandl with its existing Analytics Hub business within Global Information Services.
“Quandl will allow Nasdaq to partner more closely with the investing community as the industry continuously seeks ways to evaluate an endless supply of information to drive new insights, investment ideas and deliver alpha,” said Bjorn Sibbern, executive vice president and head of Nasdaq’s Global Information Services.
“Quandl’s leadership, user community, and team of data scientists combined with Nasdaq’s alternative data group and global reach, will help our diverse client base derive a broad array of new investing opportunities.”
Founded in Toronto in 2012, Quandl is used by eight of the top 10 hedge funds and 14 of the top 15 largest banks, and is based out of Toronto, integrating with Nasdaq’s Analytics Hub products and team.