Shanghai Data Exchange and Eagle Alpha Form Strategic Partnership to Drive Global Data Business Expansion

DUBLIN, Aug. 27, 2024 /PRNewswire/ -- In August 2024, Shanghai Data Exchange and Eagle Alpha officially signed a strategic cooperation agreement. The two parties will establish a cooperation mechanism for the bidirectional flow of overseas platform data. Through a series of interconnected initiatives such as regulatory alignment, supply and demand matching, and information sharing, they aim to assist global enterprises in expanding their cross-border data flow business. This collaboration will enhance the security and convenience of data delivery, promoting global data circulation and transactions.

Alternative data refers to new types of data derived from non-traditional sources, increasingly used in investment research in recent years. Founded in 2012, Eagle Alpha is a leading global alternative data aggregation platform. It has profiled almost 2,000 types of alternative data products, including social media sentiment analysis, web traffic and e-commerce data, geolocation data, and satellite imagery. In addition, the platform has over 1,000 digitized due diligence documents and delivers datasets to cloud environments. These products are widely used by asset management firms, private equity companies, corporations, and government agencies worldwide, providing unique insights and deep understanding for investment decisions and market analysis.

Niall Hurley, CEO of Eagle Alpha, commented, "We have been sourcing and profiling data in China since 2017. We have observed the rapid development of the Chinese data trading market and the irreplaceable role that data exchanges play within it. We hope that through our strategic partnership with the Shanghai Data Exchange, we can help more international data companies understand and participate in the Chinese data market. We also recognize the openness and determination displayed by the Shanghai Data Exchange in expanding into international markets. We believe that through this strategic partnership, we can provide more high-quality alternative data support to the Chinese market, aiding Chinese enterprises in gaining an edge globally."

Tang Qifeng, General Manager of Shanghai Data Exchange, stated that the exchange is accelerating the construction of an international zone and promoting the formation of a bidirectional data flow cooperation mechanism with international mainstream data supply platforms like Eagle Alpha. This effort aims to reduce transaction costs, such as information search costs, making it more convenient and efficient for enterprises to conduct cross-border data flow business.

Moving forward, leveraging the advantages of Shanghai Data Exchange in international and diverse data business ecosystems and data trading services, as well as Eagle Alpha's resources in data supply and global customer relationships, both parties will co-create a cross-border data circulation and trading ecosystem. They will provide global enterprises with broader and more diverse data services, technical services, and comprehensive solutions.