Chicago-based CME Group on Monday announced an agreement with Boston-based FinTech Sandbox that will see the derivatives exchange operator provide the non-profit organization’s startups with free access to historical futures and options data.
FinTech Sandbox, which takes no fees or equity from startups that participate in its program to provide data feeds and cloud hosting to startups, is sponsored by Fidelity Investments, F-Prime Capital, Thomson Reuters, Silicon Valley Bank, Amazon Web Services, Intel, SIX Financial Information, Goodwin Procter, and .406 Ventures.
“We formed this agreement with FinTech Sandbox because we strongly believe in supporting entrepreneurs in the global fintech community,” says Craig Mohan, managing director of market technology and data services at CME Group, in a statement. “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,” adds Jean Donnelly, executive director of FinTech Sandbox.