Center for Research in Security Prices (CRSP) Company Profile

Background

The Center for Research in Security Prices (CRSP) is a leading provider of historical market data and investable indexes, affiliated with the University of Chicago's Booth School of Business. Established in 1960, CRSP's mission is to empower market insight and innovation by delivering enriched and accessible data products and solutions. Its vision is to be the premier financial market data, benchmark, and analytics provider. CRSP's comprehensive databases have significantly transformed financial research and investment practices.

Key Strategic Focus

CRSP specializes in providing research-quality financial and economic data to academic, commercial, and government institutions. Its core objectives include offering accurate, survivor bias-free information essential for scholarly research and sound investment decisions. CRSP's primary markets encompass academic researchers, investment professionals, and regulatory authorities. The organization utilizes advanced data management technologies to maintain and deliver its extensive datasets.

Financials and Funding

As a nonprofit entity, CRSP operates under the University of Chicago's umbrella. While specific financial details are not publicly disclosed, estimates suggest an annual revenue of approximately $7.5 million, with a staff of around 86 employees.

Pipeline Development

CRSP continually enhances its data offerings and index products. Recent developments include the launch of Environmental, Social, and Governance (ESG) indexes in 2021 and the rebranding of its investable indexes as CRSP Market Indexes in 2022. In 2023, CRSP expanded its index suite by introducing five new indexes, including Core Cap, Core Cap Growth, Core Cap Value, Total Market ex-Mega Cap, and Small/Micro Cap.

Technological Platform and Innovation

CRSP's technological infrastructure is built around a service-oriented architecture, utilizing Microsoft .NET components and web services for global enterprise-wide processing. The organization employs advanced data management technologies to ensure the accuracy and integrity of its datasets. Notably, CRSP has partnered with XSP to automate its corporate actions processing, enhancing the efficiency and reliability of its data services.

Leadership Team

David Barclay: Chief Executive Officer

Jennifer Haffner: Chief Financial Officer

Randall Forrester: Chief Information Officer; Managing Director, Project Management

Eric Frait: Managing Director, Business Advancement

Kenneth Kraus: Managing Director, Software Engineering & Index Architecture

Paul Lohrey: Managing Director, Strategy & Analytics

C. Alan Myers: Managing Director, Data Research & Operations

Lynn Olsen: Senior Director, Marketing

Diane Roman: Senior Director, Communications

These leaders bring extensive experience in finance, technology, and data management, guiding CRSP's strategic initiatives and operations.

Leadership Changes

On January 1, 2020, CRSP transitioned to a limited liability company (LLC), becoming a wholly-owned subsidiary of the University of Chicago. This structural change aimed to enhance operational efficiency and strategic focus.

Competitor Profile

Market Insights and Dynamics

The financial data and analytics industry is characterized by rapid technological advancements and increasing demand for accurate, comprehensive datasets. The market is highly competitive, with several key players offering a range of data products and services.

Competitor Analysis

CRSP's primary competitors include:

Bloomberg: Offers extensive financial data, analytics, and news services.

S&P Global Market Intelligence: Provides comprehensive data and analytics for financial markets.

FactSet: Delivers integrated financial information and analytical applications.

Morningstar: Specializes in investment research and management services.

These competitors offer similar data products and services, catering to a broad range of clients in the financial sector.

Strategic Collaborations and Partnerships

CRSP has established significant partnerships to enhance its data offerings and market reach:

Vanguard: In 2012, Vanguard adopted 16 CRSP indexes as benchmarks for its U.S. stock index funds and ETFs, linking over $2 trillion in assets to CRSP indexes.

XSP: In 2009, CRSP selected XSP's corporate actions platform to automate its corporate actions processing, improving data accuracy and operational efficiency.

Operational Insights

CRSP's commitment to data accuracy and integrity, combined with its strong academic affiliation, positions it uniquely in the market. Its focus on research-quality data and innovative index products differentiates it from competitors, catering to clients who require rigorous and reliable financial data.

Strategic Opportunities and Future Directions

CRSP aims to expand its data offerings and index products to meet evolving market demands. Future directions include enhancing ESG index offerings, developing new data products for emerging financial instruments, and leveraging technological advancements to improve data delivery and analytics capabilities.