Research
Structural research on financial infrastructure: markets, data, identifiers, stablecoins and AI. Written to stay true for years, not days — no price calls.
The Open Financial Data Stack, 2026
Where open financial data actually stands: what is genuinely open, what is licensed, and where the gaps are for builders and AI agents.
Markets · 2026-08Mapping the Global Exchange Landscape
A structural map of the world's stock exchanges: who owns them, how they concentrate, and why listing venues and trading venues are diverging.
Crypto · 2026-08Stablecoins as Market Infrastructure
Stablecoins stopped being a crypto niche and became a parallel dollar-settlement system. What that means for banks, payments and data.
AI · 2026-08AI Agents and Financial Data Access
AI agents are becoming first-class consumers of financial data. Most financial websites are unreadable to them. What machine-readable finance looks like.
Data · 2026-08The Entity Resolution Problem
Why 'which company is this?' is the hardest cheap-sounding question in finance, and how identifiers (LEI, ISIN, FIGI, MIC) actually fit together.
Infrastructure · 2026-08Financial Knowledge Graphs: From Tables to Relationships
Why the future of financial data is a graph, not a table — and how to build one incrementally without boiling the ocean.
Data · 2026-08The Concentration Graph
What our own 237-node map shows: the covered universe is one country, ten companies and seven names deep — and even a supermajor can be unresolvable in open identifier registries.
Data · 2026-09The Shape of "Live" Data
Computed from Finance Foundation's own /api/v1/live feed: the 29 series behind one 'live' label range from same-day crypto prices to a policy rate last set in March 2024, because 'live' means when we last checked, not when the number last changed.
Data · 2026-10Balance Sheets Bigger Than Nations
Computed from Finance Foundation's own banks and countries tables: summing covered bank total assets by headquarters country and dividing by that country's GDP shows five of eleven banking jurisdictions carry bank balance sheets larger than their whole economy.
Download this dataset: CSV · JSON — open data, CC BY 4.0, attribution "Finance Foundation".
Approximate reference values from public sources · seed-0.7 · marketcap-1 · 2026-08-30 · not real-time. See data & methodology.
JSONCSV No key, CORS enabled — paste any of these straight into a notebook.