Our mission at Intrinio is to power a generation of applications that will fundamentally change the way our broken financial system works. Intrinio data feeds form the basis of large enterprise business reporting applications, Fintech web-apps, mobile apps and even blogs. It's rewarding to see our product come to life at the hands of today's most innovative developers. They are building powerful things.
We're lucky to be in a business where we grow together with our customers, and we're proud to show off their hard work. Each blog in this series will feature a developer or a startup that has leveraged our financial data feeds to build something incredible.
These are their stories.
Over the past several years, regulatory changes in the US and Europe combined with many other factors pushed large banks begin to purge their equity research teams. Thousands of equity analysts lost their jobs, and a dynamic fundamentally shifted.
The independent equity research market became a huge opportunity for niche, independent research companies. In San Francisco, a technology veteran and trading enthusiast called Rajesh started putting the pieces together.
"I found it to be very appalling to see analysts give a BUY rating on a stock but they are never around to say when to sell. I wanted to build a platform which not only identified new trading opportunities but also hand-held the customer through the entire process from trade entry to exit."
From a Hobby to a Powerful Technology
A bachelor's degree in Electrical Engineering and an MBA in Marketing sent Rajesh Srivastava on an entrepreneurial trajectory to Silicon Valley. There, he spent 25 years working with the world's top security companies, technologies and platforms to prevent and block active data security breaches. Over the course of those years, technical trading became a passionate side hobby.
In 2010, Rajesh started to think more and more about trading, technology and how current analyst ratings functioned in the market. Combining his technical domain expertise and experience in trading, Rajesh saw the opportunity to create a specific technology to apply to trading the markets.
His plans for PriceSeries started to unfold, but he waited until 2015 to get started. His vision for the product, technology, data and addressable market needed time to come together in a perfect storm. After developing a prototype, Rajesh showed it to as many traders around the world as he could.
The feedback? Very encouraging. So began the PriceSeries journey.
Machine Intelligence That Picks and Follows a Trade Through Exit
PriceSeries is an independent trading research company based in San Francisco. The company provides automated trading signals for professional traders that cover the lifetime of a trade, including buy, sell, and hold guidance.
Rajesh single handedly built the PriceSeries technology, with supportive help from a small offshore product development team and a US marketing and operations teams. His proprietary algorithms rotate short term investments to manage market risk for quick returns, generating the best ROI for money managers.
This 6-Step Process is the Key to the PriceSeries System
- The PriceSeries system scans the market to identify new trading opportunities
- A stop loss value trade is algorithmically calculated to mitigate risk
- The system monitors the price action and issues a buy price for every trading opportunity
- The system monitors negative price action and issues a sell signal for any existing trades
- The stop loss order is executed at the set price, and the trader exits with higher profits and minimal risk
- After the trader exits, the stock continues to fall without impacting profit
Scaling, Automation & Integration Challenges
We all know that great things take time. The success the public sees outshines the struggle, challenge, and hiccups inherent in building something new, innovative and game changing. It's a difficult journey to take, but the challenges entrepreneurs face are what gives them character, strength, and ultimately lead to success.
"A manual research model on 5000 major stocks daily for a single market is neither cost effective nor scalable."
Hands down, the biggest challenge Rajesh faced from day one was process automation. Economies of scale at large institutions like Citibank and Namura Research enable hundreds of thousands of research analysts across the globe to produce research.
Smaller upstarts taking a stab at the market opportunity have to get creative. Rajesh realized he would need to automate if he wanted to cover hundreds of thousands of global stocks. The automated technology he developed now fuels the future of PriceSeries.
Product Market Integration with Product Development
With a strong background at larger companies, Rajesh had a little secret that most tech-focused entrepreneurs aren't let in on: product marketing should be in step with product development. Typically, it is a step behind.
To overcome this challenge at PriceSeries, Rajesh made sure to incorporate marketing planning in the very early stages of tech development.
"Today, I am proud to say that we have automated 99% of our process including research and marketing."
PriceSeries' entire process of data download, analysis, customer product updates, website updates, marketing documents and more - is fully automated. Rajesh has the product development team treat product marketing as an actual client, incorporating their needs into the daily production process.
This, as many of you know, is an incredible feat. Inefficient synergies between development and marketing can be the downfall of early stage technology companies.
Product Scaling & Performance
After a 25+ year career in software development, Rajesh wanted nothing to do with traditional software installs. SaaS (software as a service) came to his rescue. This helped reduce support costs, but Rajesh was worried about compromising product performance over the internet.
The product needed to be lean, with ability to scale to thousands of users across the world. With a foundation of C as the programming language running the show, the PriceSeries team kept their stack efficient and able to process enormous amounts of data (something we can relate to at Intrinio!).
Scoff at the "old" C language if you will, but it's what enables Rajesh to run multi-pass algorithms and fully automate his marketing processes.
Finding a Data Vendor That Works
In such a machine-driven and automated model, finding a data vendor that could provide efficient, on-demand market data was a hurdle. Larger market data vendors who had API access were full of restrictions, and smaller vendors had poor data quality. Rajesh was stumped, until he found Intrinio.
"The cost of data was prohibitive with some large vendors. Most old smaller data vendors did not have the on-demand API and were using the FTP for daily downloads."
After trying out our Free Plan, Rajesh loved the service and has been with us ever since. We're so glad he chose Intrinio to power his technology. We built it specifically for developers like him, and we love watching his platform evolve.
What's Next for PriceSeries?
"Our customers are our mentors and future visionaries."
Rajesh has several other projects up his sleeve, all focused on filling niches in the fintech industry. He takes his customer feedback seriously, and has created open channels for discussion. Take a look at the PriceSeries platform and get in touch with Rajesh. He treats customers as partners in combined growth. Trust us - you want to be part of it.