Substantive Research offers independent comparison and discovery on investment research, market data and ESG pricing and products for buy side professionals
Research Discovery
Investment research curation service with weekly content from over 400+ brokers and independent research providers matched to your specific areas of focus and needs

Research Spend Analytics
Unique datasets for investment research buyers including provider pricing and visibility on their analyst resourcing to optimize your research budgets, payment allocations and consumption

ESG
Discover and compare providers of ESG data, ratings and research with a searchable directory of more than 160 vendors with a truly independent, objective and up-to-date view.

Market Data Spend Analytics
Industry first apples-to-apples market data price benchmarks for market data procurement professionals across index providers, rating agencies, pricing and reference data, research/analytics and ESG.
MEDIA
- The Trade – 1 March 2022 FCA brings new MiFID II unbundling exemptions into force
- Financial News – 27 January 2022 Banks rebuild equity research teams after MiFID battering
- Hedgeweek – 29 November 2021 Substantive Research maps changing market share in investment research
- Financial Times – 10 September 2021 (Subscription required): ESG Data Providers split between going niche or staying broad
- Tabb Forum – 29 July 2021 5 Insights on Transparency and Transition in Market Data
- Tabb Forum – 25 June 2021 Unbundling Uncovered: The Top 5 Themes We Need to Think About
- Markets Media – 3 June 2021 Substantive Research Launches ESG ‘TripAdvisor’
- Tabb Forum – 11 May 2021 Addressing the unintended consequences of MiFID II unbundling rules
- Institutional Asset Manager – 29 April 2021 Substantive Research launches dashboard for asset managers
- Institutional Investor – 8 March 2021: The Equity Research Brain Drain
- Institutional Asset Manager – 24 February 2021 Substantive Research expands into US and strengthens UK sales team
- Financial Times – 29 November 2020 (Subscription required): Price of sellside analyst meetings almost halved by pandemic
- Euromoney – 23 November 2020 (Subscription required): Research provision hits digital inflection point
- Substantive Research – 15 October 2020 Substantive Research appoints Jonathan Furse as Chief Technology Officer
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The services and output data provided by Substantive Research Limited rely upon the quality of data provided to us by third parties. Accordingly we give no warranty, representation or guarantee in relation to the accuracy or quality of such output data or (save as expressly set out in our written contract with you) our services.