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Similarly, there is a business computing custom indices that a bank uses in products. The bank is perfectly capable of computing the index itself, but it needs
by FabHK 7y ago
Similarly, there is a business computing custom indices that a bank uses in products. The bank is perfectly capable of computing the index itself, but it needs to be handled by a third party that is paid handsomely to just re-calculate what the bank already calculated.
- adw 7y agoOne example of that is Markit Group, which had revenue of $1.5bn/yr when it merged with IHS in 2016 at an implied valuation of roughly $5.5bn. Best London startup of the last 25 years, including DeepMind, not close. https://en.wikipedia.org/wiki/Markit https://en.wikipedia.org/wiki/Markit Being a trusted third party is frequently an amazing business, if you can earn or negotiate your way there.