Aspen Research Group

What Aspen Research Group does

Aspen Research Group, Ltd. is a privately held software company founded in 1985 that develops and markets Aspen Graphics, a Windows-based desktop technical analysis and charting platform sold to professional traders and market analysts. The company is headquartered in Glenwood Springs, Colorado, with a sales office in New York, and it serves customers trading equities, options, bonds, fixed-income instruments, mutual funds, and forex. The core platform includes real-time charting, quote windows, news windows, time-and-sales windows, customizable studies, alarms, color rules, and DDE-based export into Excel, alongside CBOT-licensed Market Profile charts and Spectrum Profile, a proprietary tick-volume histogram.

The product family consists of the Aspen Graphics v4.2 base license plus three specialized modules: Aspen Optionalysis for options analytics (theoretical pricing, 'what-if' scenarios, P&L tracking, risk management, strategy charting, and volatility skews), Aspen Graphics Powered by Bloomberg for Bloomberg data subscribers, and Aspen Graphics for Forex for currency markets. The software integrates with Bloomberg, Thomson Reuters/Refinitiv, DTN/DTNIQFeed, Interactive Data Real-Time Services, FXCM, GAIN Capital, and Morningstar, and supports trading symbology across major global exchanges. Premium studies from DeMark, MESA, and Cynthia Kase are licensed by subscription on top of the base platform, and a new web product at aspencharts.com signals a move beyond Windows-only delivery.

Revenue is generated through monthly-recurring software subscriptions with automatic renewal, supplemented by subscription-only add-ons and disclosed non-recurring connect fees. Go-to-market is sales-led via direct phone outreach (800.359.1121), the aspenres.com website, and free-trial-driven lead capture, with documentation, tutorials, and user forums supporting self-serve adoption. The company is privately held, has not raised institutional capital, and discloses no financial metrics.

Name

Aspen Research Group

Legal name

Aspen Research Group, Ltd.

Website

https://aspenres.com

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

11–50 employees

Short description

Aspen Research Group is a privately held Colorado software company that sells Aspen Graphics, a Windows desktop technical analysis platform for professional traders in equities, options, bonds, and forex, delivered via monthly subscription with integrations to Bloomberg, Reuters, DTN, and others.

Ownership category

akta.pro rank

Product category

Trading Analytics Software

NAICS

Software Publishers (5132), Software Publishers (513210)

SIC

Services-Computer Programming Services (7371)

akta.pro primary industry

AI/ML Engineering & Model Development Services (BPAEAHAF)

Keywords

• Technical analysis software
• Trading analytics software
• Options analysis software
• Forex charting software
• Market data integration

Headquarters

HQ city

Glenwood Springs

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Software License and Subscription: Aspen Graphics software is sold as a licensed product with monthly recurring charges. The license agreement references monthly installments and automatic renewal, indicating a subscription model. Additional premium features (Market Profile, Optionalysis, advanced studies) are available by subscription.
2. Premium Feature Subscriptions: Specialized tools including Market Profile (CBOT-licensed), Market Profile Plus, DeMark studies, MESA studies, and Cynthia Kase studies are available by subscription on top of the base software license.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Aspen Research Group develops and sells Aspen Graphics, a Windows-based technical analysis software platform for market professionals trading equities, options, bonds, fixed-income, mutual funds, and forex. The product family consists of the core Aspen Graphics v4.2 platform plus three specialized add-on modules — Aspen Optionalysis (options analytics), Aspen Graphics Powered by Bloomberg (Bloomberg data integration), and Aspen Graphics for Forex (currency markets) — delivered via subscription and integrated with multiple premium market data feeds.

Product overview

Aspen Research Group offers Aspen Graphics, a comprehensive technical analysis software platform for market professionals. The core product is Aspen Graphics v4.2, which serves as the foundation for the product family. Three specialized add-on modules extend the platform: Aspen Optionalysis provides options trading analytics with theoretical pricing, P&L tracking, risk management, and volatility skews; Aspen Graphics Powered by Bloomberg integrates Bloomberg's market data for enhanced stock charting; and Aspen Graphics for Forex delivers specialized tools for currency market analysis. The software connects to multiple data providers (Bloomberg, Thomson Reuters, DTN, Interactive Data, FXCM, GAIN Capital, Morningstar) and supports equities, options, bonds, fixed-income, mutual funds, and forex across global exchanges.

Differentiator

Problem solved

Functional benefit

Brands

• Aspen Graphics: Core technical analysis software product for equities, options, bonds, fixed-income and mutual funds trading.
• Aspen Optionalysis
• Aspen Graphics Powered by Bloomberg
• Aspen Graphics for Forex

Products and services

• Aspen Graphics v4.2 Core Windows-based technical analysis and charting software for market professionals trading equities, options, bonds, fixed-income, and mutual funds. Provides chart windows, quote windows, news windows, equity windows, time and sales windows, clocks, and price/volume windows with Market Profile, custom formulas, indicators, alarms, color rules, automated scripting, and DDE export to Excel.
• Aspen Optionalysis Options analysis add-on for options traders that combines Aspen Graphics charting with specialized options-market features, including theoretical pricing, what-if scenario modeling, P&L tracking, risk management, strategy charting, and volatility skew visualization. Available by subscription on top of the base Aspen Graphics license.
• Aspen Graphics Powered by Bloomberg Stock charting and analysis module designed for Bloomberg Professional market data subscribers that integrates Bloomberg's market data with Aspen Graphics charting, enabling Bloomberg subscribers to use Aspen's technical analysis environment on Bloomberg-sourced market data.
• Aspen Graphics for Forex Forex trading and analysis software providing currency market charting tools with customizable views and trading interfaces, options analytics, risk management, and Market Profile support for foreign exchange traders. Integrates with forex data feeds including FXCM and GAIN Capital.

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature13 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Bloomberg L.P.coreTechnology or IntegrationBloomberg market data subscribers can use Aspen Graphics Powered by Bloomberg to analyze Bloomberg's market data within the Aspen Graphics environment. This is a data and integration partnership where Bloomberg provides the market data feed.
• Angel BrokingminorChannel Partner/ Reseller/ DistributorIndian online stock broking company listed as a partner link on the Aspen Graphics website, offering online share trading with Aspen-related tools.
• optionsXpressminorChannel Partner/ Reseller/ DistributorOnline brokerage firm listed as an associate on the Aspen Graphics website. optionsXpress has been recognized by Barron's as a top online brokerage.

Scale indicators1 record

Recent moves6 records

Expansion highlights4 records

Direct peers

• TradingView: Modern web/mobile technical analysis and charting platform serving retail and professional traders across equities, options, forex, and crypto. Direct competitor to Aspen Graphics with similar charting, scripting, and multi-asset coverage but vastly larger user base and engineering resources.
• MetaTrader (MetaQuotes): Dominant retail forex/CFD trading platform with technical analysis, automated trading, and custom indicators. Directly competes with Aspen Graphics for Forex on the same forex trader segment with MT4/MT5 widely used by retail forex professionals.
• eSignal (Interactive Data): Professional charting and technical analysis platform offering real-time market data, advanced charting, and options analytics. Direct competitor in the professional trader technical analysis space with similar data feed integrations.
• NinjaTrader: Trading and charting platform for futures, equities, and forex with technical analysis, automated strategies, and market analytics. Direct competitor targeting active and professional traders similar to Aspen's core user base.
• TradeStation: Online brokerage and trading platform offering advanced charting, technical analysis, options analytics, and multi-asset trading. Directly competes with Aspen across equities, options, and futures for active and professional traders.
• Sierra Chart: Professional charting and trading platform focused on futures and equities with deep technical analysis, DOM, and historical tick data. Competes with Aspen Graphics for serious technical traders prioritizing depth of market data and customization.
• TC2000: Technical analysis and stock charting platform with real-time data, customization, and scanning tools for active traders. Directly comparable to Aspen Graphics on equities and options technical analysis use cases.
• CQG: Professional trading platform and market data provider offering advanced charting, analytics, and order routing across futures, options, and FX. Comparable to Aspen for institutional and professional market participants needing high-quality data feeds.
• ProRealTime: Web-based technical analysis and trading platform covering equities, futures, forex, and indices with custom indicators, backtesting, and market scanning. Direct competitor to Aspen Graphics with broader multi-asset and multi-region coverage.

Broad incumbents

• Bloomberg Terminal: Industry-standard financial data, news, and analytics terminal with embedded charting and technical analysis. While Aspen has a strategic partnership with Bloomberg for data, Bloomberg's terminal also competes directly by integrating increasingly sophisticated charting analytics.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/aspengraphics

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aspen Research Group