Credit Suisse Asset Management's NEXT Investors Leads $21M MayStreet Series A

MayStreet, a market data infrastructure platform, announced the closure of a $21-million Series A funding round Thursday that was led by Credit Suisse Asset Management’s NEXT Investors.

What Does It Mean? The funding will assist MayStreet in further globalizing its market data infrastructure via improved product development, marketing and sales efforts, the company said. 

“For firms across our industry –banks, quantitative investment firms, traditional asset managers, trading system vendors, etc. – the race is on to figure out how to most effectively extract value out of the ocean of market data that gets created each day,” Patrick Flannery, MayStreet's CEO, and co-founder, said in a statement.

“From our standpoint, this is an incredibly exciting problem to solve, which is why we’ve worked so hard these past eight years to develop, in conjunction with some of the world’s most demanding users of market data, a sophisticated platform to do just that. Credit Suisse NEXT Investors sees the world in a similar way, and we are thrilled to have the opportunity to work with them to further scale our business.”

MayStreet said it enables execution, surveillance and reporting, as well as instantaneous backtesting and analysis, increasing the efficiency of activities such as market-making and proprietary trading.

What The Investors Said: “We have been following MayStreet’s progress and believe the technology they’ve developed is truly differentiated,” said Greg Grimaldi, co-head and portfolio manager of NEXT Investors at Credit Suisse Asset Management. He will be appointed to the MayStreet board of directors.

“The ability to efficiently leverage market data enterprise-wide is clearly becoming more and more critical each day, and we believe that MayStreet is incredibly well-positioned to help firms across the capital markets modernize their infrastructure to meet these challenges.”

To learn more about the future of market data infrastructure with MayStreet, visit maystreet.com.

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