Press Release

CFRA Announces Acquisition of First Bridge Data LLC

05 August 2019
First Bridge is a leading provider of global ETF data and analytics; acquisition strengthens CFRA’s suite of independent ETF research offerings

NEW YORK, August 5, 2019 – CFRA, one of the world’s largest providers of independent research, today announced that it has acquired First Bridge Data LLC (“First Bridge”), a leading source for global ETF data and analytics.

With the addition of First Bridge, CFRA further strengthens its already robust ETF research offerings to include the industry’s most comprehensive database of ETF constituent holdings data, reference and classification data, investment analytics, and daily pricing, flows and statistics. CFRA clients will also have the opportunity to leverage First Bridge’s powerful data visualization tools, which allow for the creation of interactive reports by region, by category, and more.

“Adding First Bridge’s industry leading ETF data and analytics creates new value for our clients across both the institutional investor and wealth management segments of the market,” said Peter de Boer, CEO of CFRA. “Not only will our ETF ratings and research now be powered by the most complete source of data on the market, but we will also be able to innovate more quickly for our clients in this rapidly growing ETF industry.”

First Bridge was founded in 2011 by Aniket Ullal, a respected equity index product management expert who was previously with S&P Dow Jones Indices and is the author of “ETF Investment Strategies” (McGraw-Hill, 2013). Led by Ullal, who will be joining CFRA as part of this transaction, First Bridge provides clients with unmatched data and analytical tools, allowing them to better understand the characteristics and holdings of individual ETFs and support their investment research process.

“CFRA’s entire approach to ETF ratings and research is distinguished by its focus on holdings-level analysis, so adding First Bridge, with its daily constituent holdings data, to our proprietary suite of offerings will only make our efforts that much stronger,” said Todd Rosenbluth, Head of ETF & Mutual Fund Research for CFRA. “I could not be more excited to incorporate First Bridge’s database into our analysis and to start sharing findings and analysis with our clients.”
As First Bridge’s offerings are incorporated across the CFRA platform, the combined solution will give financial professionals a centralized source for high-quality independent ETF research, data and analytics.

“My colleagues and I are excited to be joining CFRA, and to be bringing our screening and data visualization solutions to a wider, global audience,” added Ullal. “Combining our expertise and solutions with CFRA’ s extensive research capabilities creates an offering that I think institutional investors and wealth managers will find to be unsurpassed in the marketplace.

For more information about CFRA, please visit

For more information about First Bridge Data LLC, please visit

CFRA is one of the world’s largest providers of independent investment research. Through a differentiated methodology blending forensic accounting and fundamental equity research, CFRA empowers sophisticated investment professionals, advisors and risk managers with actionable analysis and proven results.

CFRA’s global research team of 75 analysts critically evaluates industries, funds and companies of interest to help over 2,000 clients, including the world’s leading institutional investors, wealth advisors, corporations, academics and governments, to make sound investment and business decisions.

Founded in 1994, CFRA is privately held with offices in or near New York, London, Hong Kong, Kuala Lumpur, Charlottesville, Denver, and Washington, D.C. In October 2016, CFRA acquired and has since fully integrated the Equity and Fund Research business from S&P Global.

CFRA Press Inquiries
One New York Plaza, 34th Floor
New York, N.Y. 10004
Chris Sullivan
MacMillan Communications c/o CFRA
(212) 473-4442