2020 Outlook: Patrick Flannery, MayStreet
Patrick Flannery is Founder and CEO of MayStreet.
What was the highlight of 2019?
2019 was a very significant year for MayStreet. Our revenue grew by over 250%, in large part thanks to several key hires who have helped us continue to scale the business and grow our client base. One particularly notable win was us becoming the market data provider for the SEC’s Market Information Data Analytics System (MIDAS), which is a huge validation of our vision for the capital markets. Generally speaking, 2019 was a year of further investment for MayStreet – in our technology platform, our capabilities and our client service organization – and we look forward to continued success in 2020.
What are your expectations for 2020?
Our clients rely on our market data to power their firms enterprise-wide – trading, risk, compliance, surveillance, etc. – and are eager for us to continue extending our reach with new data sets and expansion into markets like LatAm and Asia. As part of our 2020 plan, we will also be rolling out our new branding for the company and website to better demonstrate our true value and significant position in the market.
What are your customer’s pain points and how have they changed from a year ago?
Our customers come to us because they are overwhelmed with the tremendous amount of market data that they need to manage. The current model of firms supporting these processes internally is expensive, technologically difficult and quite simply does not does work for the majority of market participants. Clients want more control of their data and are overdue to have a solution where they can access only the data they need, when they need it, in whatever format necessary. Clients are particularly excited about our “Near-Time” solution, which provides intraday and historical market data instantly rather than overnight, which is the workflow they are forced to use with the vast majority of market data technology providers today.
Firms are accelerating the buildout of digital transformation strategies.
Expect to see several new entrants in the equity exchange landscape.
CEO sees big potential for financial innovation in digitized assets.
Capital markets will continue to integrate and globalize.
SFTR implementation and the demise of LIBOR will be key themes this year.