On March 23, 2020, EST, Jefferies Financial Group (hereinafter referred to as "Jefferies," the largest independent investment bank and institutional broker in the U.S., with a market capitalization of approximately of USD 44.7 billion) released the U.S. Economic Activity Index Report, which was the first financial research report on COVID-19's impact on the American economy, industries and capital market based on alternative data. The report cited GTCOM's alternative-data quantitative model and analysis framework, made a comparative analysis of GTCOM's China Rework Index, and analyzed COVID-19's global economic impact.

▲ Jefferies research report (excerpt)

The data research report by Jefferies first analyzed the impact of COVID-19 on the economy from the macro perspective. Subsequently, it analyzed the impact of COVID-19 on life and livelihood as well as different industries from the micro perspectives of lifestyle, entertainment activities, online education and the mobile office.

The basic framework used in the above analysis was the index model created by GTCOM-US, including the Rework Index, the Urban Congestion Index, the Daily Coal Consumption Index and the Personnel Flow Rate Index (PFRI).

The joint financial research report released by GTCOM-US and Jefferies marked the start of intensive cooperation. In the future, they'll deepen their cooperation in alternative data construction, quantitative model development and composite analysis service to serve the world's financial and capital markets.

GTCOM-US

GTCOM-US, a global leading fintech and research data analytical company, employs advanced natural-language processing and semantics computing technology to analyze enormous amounts of data globally. Thus, the company provides enterprise users with connections to rich sources of data. Additionally, it cleans, classifies and labels unstructured data while providing in-depth data-mining services to the financial and capital markets.

Jefferies Financial Group

Jefferies Financial Group (Jefferies), the largest independent investment bank and institutional broker in the U.S., with current market capitalization of approximately USD 44.7 billion, was founded in 1962 by Boyd Jefferies, a UC Berkeley alumnus. As the inventor of 24/7 trading, Jefferies is devoted to offering services to top investment banks with market capitalizations ranging from USD 500 million to USD 5 billion and praised by Goldman Sachs as a middle-market bank and bulge bracket. Jefferies was accorded the "Best Middle Market Bank" honor for 2006 and again for 2007.