July 2019 Company Newsletter

Bizarre and Unique July Holidays

July 11: World Population Day | July 13: Embrace Your Geekness Day | July 14: Bastille Day | July 17: World Emoji Day

July 27: Bagpipe Appreciation Day | July 29: International Tiger Day | July 30: International Day of Friendship

Metrics

For all financial metrics, check out the Finance Intranet page >

Five Largest Clients by Total ACV

• Millennium — $1,500,000 (8.68% of Total ACV)
• Point72 — $1,171,000 (6.78% of Total ACV)
• Balyasny — $647,450 (3.75% of Total ACV)
• Wellington — $482,400 (2.79% of Total ACV)
• T.Rowe Price — $401,500 (2.32% of Total ACV)

Key Client Wins in April

• Marshall Wace — Insights, $91K ACV, add-on of 11 users, now at a total of 26 Insights users and a datafeed. Salespeople: Joe Boo & Conrad Rademan.
• Woodline Partners — Insights, $76K ACV, 9 users. Salesperson: Joe Boo.
• Kynikos Associates — Insights, $58K ACV, 6 users. Salesperson: Matt Sherman.
• Moore Capital — Insights, $38K ACV, add-on of 4 Insights users, now at a total of 10 Insights users + Resource Tracking + Provider Evaluation. Salesperson: Jim Hiltner.
• Glenview Capital Management — Insights, $58K ACV, add-on of 6 users, now at a total of 16 Insights users + Resource Tracking + Provider Evaluation. Salesperson: Jackie Knowles.
• RBC Global Asset Management — Insights, $31k ACV, 4 users. Salesperson: Ryan Ray.
• VMware, Inc — Corporate Insights, $8K ACV, 1 user. Salesperson: Drew Crawley.
• Verizon Communications — Corporate Insights, $6K ACV, 1 user. Salesperson: Drew Crawley.

Key Contributor Additions in April

• Numis Securities — live for models
• Peel Hunt — live for models
• Craig Hallum — live for research
• Gordon Haskett — live for models
• Moness Crespi and Hardt — live for models

A full list of contributor statuses can be found on the Intranet in Contributor Relations >

Company Notes

Milestones & Achievements

Deal #2
Last month we announced our first seven figure “enterprise” deal for Insights. This month we are announced our *second* seven-figure deal for Insights! Jackie Knowles (sales) closed a $5,700,000 three-year enterprise-level deal with Point72 for Insights, Research Connectivity and the Datafeed. Congratulations, Jackie. We see a gong ringing in your future.

Awards

Congratulations to Anil Pereira and his team on receiving the HR Excellence Awards 2019 award for “Best HR Strategy from Overseas.” Remarks from the judges said, “Working from the premise that success starts with differentiation and how creative products are, the organization’s HR ethos has always centered around how important employees are to this.” View the full list of winners >

In the News

Google Needs to Fill Its Cloud >

Nintendo Moves Forward with a Cheaper Switch Console >

Upcoming Events

• Jefferies Industrials Conference | New York | August 6-8

Questions about upcoming conferences? Contact Erin Gifford.

Unbundling Uncovered

On June 12, industry leaders from the U.S. and Europe gathered at Unbundling Uncovered to discuss the direction and pace of change for the U.S. investment research industry. Barbara Lee, Vice President of Sales & Client Development, shared insights and the key takeaways.

The conference was a terrific platform to network with the key players following the MiFID II space. Visible Alpha clients comprised 25% of the audience, including broker relations and corporate access heads from the buy side, and COOs, Directors of Research, Commission Management and Heads of Sales from the sell side. Content was timely as folks await FCA audit results, a decision on whether the SEC No Action Letter will expire and further direction on where the industry is headed.

Main takeaways:

1. Global asset managers will be paying for research out of their P&L globally in the near future. How soon that happens is unclear, but there was as sense of inevitability.

2. Transparency is the new currency in research. The regulator said that valuation processes need to address quality and not just quantity.

For more details on the panels, check out the Intranet >

HR News

Learning and Development Policies

We want to foster a learning culture at Visible Alpha and would like to encourage and support our employees to follow their passion with regard to work-related training programs, classes, certifications, seminars or conferences. For additional information on the policies for your office, please visit the following:

NY — Learning and Development Policy >

London — Learning and Development Policy >

Mumbai & Noida — EazeWork >

Employee Referral Program

Did you know that you can receive a bonus if you refer someone to Visible Alpha who is then hired by the organization? For Mumbai and Noida, log onto Eazework to view the policy for these offices; New York and London policies are located on the Intranet.  View current job postings >

Product & Operations

Enterprise Product

Project Spark

Spark releases have continued into Phase 5 per schedule. Across the entire RTv2 project, 82% (51) of clients have been fully onboarded, and 11 clients remain in the onboarding phase. Phase 5 has two remaining waves to complete before roll out is complete.

For questions about Project Spark, contact Lana Gemmell.

Interactions Management

Product and Engineering have begun the rewrite of Interactions Management, which will include database migration, technical stack updates and functional changes. The Interaction Management team is currently focused on adding performance, data ingestion bandwidth and transparency into the interactions ecosystem.

For questions, contact Bob McCarthy.

Professional Products

Monitor in Insights

Research departments and equity salespeople can now easily see their view versus the Street on companies for all time periods and line items. Our new sell-side line item monitor (“Vs. Consensus”) is a new Insights shortcut available to sell-side users at all fully contributing brokers.

Standardized Industry Data in Insights

While we gear up for our general release of standardized industry data later this year, which will allow our clients to compare detailed operating data across a sector, we have two new releases available for beta clients enabled for this data.

1) Revisions Charting vs Peers for company data

2) 10 New Sectors: Telecommunications Equipment, Specialty Mining & Metals, Movies and Entertainment, Real Estate Services, Delivery, Air Freight & Logistics, Transportation Services, Railroads, Trucking, and Aerospace

Sell-Side Research Analysts “Models Processed” Alerts

By the end of July, research analyst and associates will receive email alerts on their coverage once their most recent model is processed and added to consensus. In the email, they will see how their latest estimates stand in comparison to current consensus and how many line items of their model are used compared to our consensus templates. The email also provides shortcuts to the Revisions Analysis page and the analyst QC Dashboard.

Questions about Professional Product updates? Contact Veeral Shah.

Data Operations, Research and Engineering

APAC Coverage

Asian coverage will be the bulk of the lift for the Data Operations team for the rest of the fiscal year, with China, Japan, Hong Kong and South Korea as key markets to cover. Canada and Australia are two other markets that the team will be initiating coverage on as well, in addition to the tail in Europe and the U.S.

Clients & Contributors

Client & Contributor Updates

Buy-Side Outreach for Insights Contribution

Contributor Relations has outlined a new and improved process for asking our buy-side clients to assist in increasing our broker universe on Insights. Check out this step-by-step guide >

Client & Contributor Resources

Broker Revisions Study

Ihsan Saracgil, Data Scientist, conducted a study to understand when and how often analysts revise their estimates on a company throughout its fiscal quarter. In the paper, we argue that investment professionals are missing critical information without access to real-time analyst revisions. The conclusion? Check out the full study to learn more >

Zillow Homes Segment

Bonanza Chalaban, Product Research Specialist, took a look at the Zillow Homes segment on Insights:

• While the source count does shrink in 2025, estimates are currently well below management’s guidance, with home revenue at $14B vs. the long-term $20B guidance, and home purchases of 24,800 (2K homes/month) vs. the long-term guidance of 5K homes/month.
• Variability across the street is very high for these estimates; see the formula bar on the platform to see the high/low estimates.

This is great information to use in prospecting and to share with current clients. For more information, including charts, click here >

Required Details for API/Feed Broker Approvals

API/Feed requirements can vary from client to client, and it’s important that the sell-side interfacing team has the relevant details in order to answer key questions from contributors. This will help reduce the time for approvals to be actions. Request this information >

Competitor News

In the News

• Canalyst’s Toolkit 2.0 seamlessly integrates reported earnings data into clients’ customized financial models >
• Refinitiv makes strategic investment in BattleFin and partners to incorporate alternative datasets within investor workflow >

Great Reviews

Ben Boucher, Director of Contributor Relations, was informed that the assistant direct of research at Buckingham is using Missing Out: Why access to real-time analyst model revisions matters to push internally for more regular and up-to-date model uploads. This is a great use case for this paper!

Fun Facts

Sit or stand? 

New research rekindles debate over standing vs. sitting at your desk >

Random fact of the day

Tennis players are not allowed to swear when they are playing in Wimbledon. Because of this, line judges have to learn curse words in every language so they know when a player has violated the rules.