The firm boosts revenues 33% during the 2020 crisis, continuing a strong trend of total revenue growth of over 400% since January 2016 with double-digit growth each year
New York, NY, January 14, 2021 – dxFeed, a leading data solutions and index management provider for the global financial industry, has summarized the results of its operations in 2020. For the year, the firm continued its five-year revenue growth trend of 33% in 2020, entered the retail market, expanded the company’s product portfolio, and established its presence in five new locations worldwide.
“As a whole, the global financial industry has experienced extremely tough times during the last five years – especially in 2020 – and we are extremely proud to announce that dxFeed has shown strong double-digit growth year-over-year in each of the past five years. We’ve had our challenges but have used this time to enter new markets, which hold potential growth opportunities and focused on refining our offerings to meet the needs of an ever-changing marketplace,” said Oleg Solodukhin, CEO of dxFeed.
dxFeed is already well-known in the financial services sector as a solid, modern, cutting-edge B2B vendor of market data and analytical services. Last year, the firm expanded into retail market space through a growing network of partners and retail platforms. dxFeed daily operations now support more than 6 million end-users through direct and B2B2C relationships and approximately 200,000 simultaneous streaming clients at any given moment. In 2021, the firm plans to add additional market surveillance, analytics and calculated data services.
Last year, dxFeed launched a new business area – Index Design, Construction and Management. In this strategic move, the firm addresses the growing demand for custom index products and technological challenges of established providers alike. Despite the growing number of index products being launched every year, there remains a great deal of room for innovation in a constantly evolving marketplace. dxFeed has worked on a number of high-profile projects with futures and options exchanges and key universities worldwide that have highlighted the need for quality index management and calculation services across a variety of domains.
While many firms in the market data industry only last year recognized the power of the cloud in the post-COVID-19 world, dxFeed has been doing this since 2009, when the firm first rolled out its historical data storage and replay service on Amazon Web Services (AWS). The fifth generation of the dxFeed cloud market data platform was launched in 2020 and provides customers with complete and immediate access to real-time price information, reducing the need to invest in costly on-premises IT implementation and infrastructure.
To fuel all these initiatives, dxFeed had to extend its professional team worldwide, further developing its expertise in Business Development, Maintenance and Support, Quantitative Mathematics and Business Analysis space. During the last year, dxFeed established a staff presence in the United Kingdom, Canada, Singapore, Portugal and Turkey.
In 2020, dxFeed won Overall Best Market Data Provider and Best New Trading Product from the Fund Intelligence Tech & WSL Awards and was named Best Analytics and Technology Provider in the WatersTechnology 2020 Inside Market Data & Inside Reference Data honors.
“With hands-on management taking charge on all fronts, dxFeed carried out sustainable growth activities in 2020 in the areas of revenue growth, new lines of business, new market segment entrance (retail, exchanges), a new presence in countries, hiring new talent in various critical functions, and other key business operations,” Oleg Solodukhin added.