FinTech Sandbox, a nonprofit promoting innovation in fintech, and international derivatives marketplace CME Group Inc (NASDAQ:CME) today sealed a new data agreement.
Under the terms of the deal, CME Group will provide FinTech Sandbox startups with free access to historical futures and options data, in a move that seeks to promote technological innovation.
FinTech Sandbox seeks to facilitate free access to financial data and infrastructure for up-and-coming startups. It takes no fees and requires no equity from startups that participate. The six-month program includes:
Cloud hosting from industry-leading infrastructure partners;
Membership in a vibrant, global FinTech community.
“We formed this agreement with FinTech Sandbox because we strongly believe in supporting entrepreneurs in the global FinTech community,” said Craig Mohan, CME Group Managing Director of Market Technology and Data Services. “The futures industry was built on innovation and we are excited to help startups make advancements in areas that will positively impact our customers.”
“Access to the kind of deep, quality data that CME Group is making available gives startups in our program a tremendous leg up in identifying problems to solve and in building products to the robust standards of large financial institutions,” said Jean Donnelly, Executive Director of FinTech Sandbox.
The partnership with CME Group is forged after in July this year Fintech Sandbox signed up Barchart.com as an official market data partner.
To view the official press release on the new collaboration, click here.