Office of Financial Research

What Office of Financial Research does

The Office of Financial Research (OFR) is a U.S. federal government agency within the Department of the Treasury, established by the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010 and headquartered at 717 14th Street, NW, Washington, DC. Its statutory mission is to promote financial stability by collecting high-quality financial data, standards, and analysis principally on behalf of the Financial Stability Oversight Council (FSOC) and its member agencies.

The OFR's product surface is organized around a monitoring toolkit and a set of proprietary data collections. The monitoring tools include the Hedge Fund Monitor (SEC Form PF, CFTC Traders in Financial Futures, FRB SCOOS, and FICC Sponsored Repo data, updated monthly/quarterly); the daily Financial Stress Index; the daily Short-term Funding Monitor; the U.S. Money Market Fund Monitor (monthly); the Bank Systemic Risk Monitor (quarterly); and the LEI Tracker. Underlying these are unique transaction-level data collections—the Centrally Cleared Repo Data Collection (launched October 2019) and the Non-centrally Cleared Bilateral Repo (NCCBR) Data Collection (Phase 1 December 2024, Phase 2 July 2025)—which together provide visibility across roughly $12.6 trillion in daily U.S. repo market exposures. Supporting infrastructure includes the OFR Analytical Environment (OFRAE), the Financial Instrument Reference Database (FIRD), and two public, registration-free JSON APIs that expose Hedge Fund Monitor and Short-Term Funding data.

The OFR does not generate commercial revenue; it is funded through congressional appropriations from the U.S. Department of the Treasury, and all data, tools, publications, and APIs are provided free of charge to FSOC member agencies (Federal Reserve, SEC, CFTC, OCC, FDIC), Congress, financial researchers, and the general public. Distribution spans the official FinancialResearch.gov website, email subscriptions via Granicus GovDelivery, social channels (@ofrgov on Twitter and LinkedIn), congressional testimony, and developer APIs. Strategic positioning is centered on closing data gaps in short-term funding and non-bank sectors—most recently through expanded NCCBR reporting—and producing analytical syntheses (briefs, working papers, the annual report) that feed directly into federal financial stability decisions.

Name

Office of Financial Research

Legal name

Office of Financial Research

Website

https://financialresearch.gov

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

51–100 employees

Short description

The Office of Financial Research (OFR) is a U.S. Treasury agency established under the Dodd-Frank Act that collects financial data and delivers analysis to the Financial Stability Oversight Council and member regulators. It operates monitoring tools, transaction-level repo data collections, and public APIs covering hedge funds, banks, money market funds, and short-term funding markets.

Ownership category

akta.pro rank

Product category

Financial Stability & Systemic Risk Monitoring

NAICS

Finance and Insurance (52), Regulation and Administration of Communications, Electric, Gas, and Other Utilities (92613)

SIC

Finance Services (6199)

akta.pro primary industry

Securities Financing Transactions (SFT) & Repo Reporting Utilities (FSAFAJAE)

akta.pro secondary industries

Research Compliance & Governance (FSACAGAK), Regulatory Reporting & Recordkeeping (AML/CTF) (FSAMAMAG)

Keywords

• Financial stability monitoring
• Systemic risk analysis
• Regulatory data collection
• Financial market analytics
• Hedge fund monitoring

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Infrastructure

Revenue model

1. Government Appropriation: The Office of Financial Research is a federal government agency funded through congressional appropriations from the U.S. Department of the Treasury. It does not generate commercial revenue.

Distribution channels5 records

Marketing channels10 records

Core offering

The Office of Financial Research (OFR) is a U.S. Department of the Treasury bureau established by the Dodd-Frank Act to support the Financial Stability Oversight Council (FSOC). OFR collects, standardizes, and analyzes data on financial institutions and markets; develops and operates monitoring and analytics tools (including the Hedge Fund Monitor, Short-term Funding Monitor, U.S. Money Market Fund Monitor, Bank Systemic Risk Monitor, and Financial Stress Index); maintains regulatory data collections (Centrally Cleared Repo, National Cleared Derivatives Data, and the Legal Entity Identifier); and publishes original research on systemic risk.

Product overview

The Office of Financial Research (OFR) operates a unified financial monitoring and data platform that delivers high-quality financial data, standards, and analysis to support the Financial Stability Oversight Council and its member agencies. The core offerings include a suite of monitoring tools—Hedge Fund Monitor, Financial Stress Index, Short-term Funding Monitor, U.S. Money Market Fund Monitor, Bank Systemic Risk Monitor, and LEI Tracker—that collectively assess, measure, and monitor risks across the financial system. Supporting these tools are data collections (Centrally Cleared Repo Data, NCCBR Data), the Financial Instrument Reference Database, and publications (Briefs, Staff Discussion Papers, Working Papers, Viewpoint Papers, Blog). The OFR also provides two public APIs—the Hedge Fund Monitor API and Short Term Funding API—that enable programmatic access to monitoring data for external developers. All components work together to provide transparency into financial markets and support systemic risk assessment.

Differentiator

Problem solved

Functional benefit

Brands

• Hedge Fund Monitor: A monitoring tool providing insights into hedge fund characteristics including size, leverage, counterparties, liquidity, complexity, and risk management
• Financial Stress Index
• Short-term Funding Monitor
• U.S. Money Market Fund Monitor
• Bank Systemic Risk Monitor

Products and services

• Hedge Fund Monitor A free, regularly updated monitoring tool that aggregates data on hedge fund sector exposures, leverage, counterparties, and other metrics to support the work of FSOC and the public.
• Short-term Funding Monitor A free monitoring tool providing regularly updated data and analysis on U.S. short-term funding markets, including secured (repo) and unsecured (commercial paper, certificates of deposit, etc.) funding volumes, rates, and counterparties.
• U.S. Money Market Fund Monitor A free monitoring tool providing regularly updated data on assets, liabilities, and risk exposures of U.S. money market funds to support FSOC and public understanding of this key funding segment.
• Bank Systemic Risk Monitor A free monitoring tool providing data and metrics on the systemic risk posed by U.S. bank holding companies and other large financial institutions.
• Financial Stress Index A free, regularly updated index measuring systemic stress across U.S. credit, equity, funding, and foreign exchange markets.
• Financial Instrument Reference Database (FIRD) A free reference database that links instruments across OFR data collections and external sources to support consistent aggregation and analysis.
• Centrally Cleared Repo Data Collection A Dodd-Frank-authorized regulatory data collection capturing transaction-level data on centrally cleared repo and securities lending activity, supporting FSOC's monitoring of short-term funding markets.
• National Cleared Derivatives Data (NCCBR)

Quantifiable outcome

• Provides visibility into $12.6 trillion daily repo market exposures
• +4 more outcomes

Named customers7 records

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature8 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Financial Stability Oversight Council (FSOC)coreStrategic or Co-development Partner · 1 January 2010Primary customer and oversight body. OFR was created by the Dodd-Frank Act to support FSOC and its member agencies with high-quality financial data, standards, and analysis for systemic risk monitoring.
• Federal ReservecoreStrategic or Co-development PartnerFSOC member agency and key collaborator on data collection initiatives including repo market data. Collaborated on cleared repo data collection and SOFR calculation support.
• Securities and Exchange Commission (SEC)coreStrategic or Co-development PartnerFSOC member agency. SEC Form PF data is a key source for the Hedge Fund Monitor. Collaborated on rulemaking for NCCBR data collection.
• Commodity Futures Trading Commission (CFTC)coreStrategic or Co-development PartnerFSOC member agency. CFTC Commitments of Traders data is integrated into the Hedge Fund Monitor.
• Fixed Income Clearing Corporation (FICC)coreTechnology or IntegrationFICC operates the centrally cleared portions of the repo market. OFR collects cleared repo data from FICC for financial stability monitoring. FICC Sponsored Repo data is integrated into the Hedge Fund Monitor.
• Bank of New York Mellon (BNY)coreTechnology or IntegrationBNY operates the tri-party repo settlement platform. OFR uses BNY settlement file data for tri-party repo monitoring and analysis.
• U.S. Department of the TreasurycoreOthersOFR is an office within the U.S. Department of the Treasury. Parent organization providing administrative and budgetary oversight.
• European Central Bank (ECB)minorStrategic or Co-development PartnerResearch collaboration on cross-border repo market analysis. ECB Financial Stability Review referenced in OFR research on international repo market dimensions.

Scale indicators16 records

Recent moves6 records

Expansion highlights5 records

Regional players

• European Central Bank (ECB): Counterpart central bank/financial stability authority collaborating with OFR on cross-border repo analysis; comparable in publishing systemic-risk indicators and stress indexes for its jurisdiction.
• Bank for International Settlements (BIS): International body coordinating financial stability research and data standards across jurisdictions; comparable in producing global financial stability reports and methodologies but operating internationally rather than within a single country.

Direct peers

• DTCC: Operates core U.S. financial market infrastructure, including the FICC repo clearing utility whose data OFR consumes; comparable in collecting transaction-level data on cleared and bilateral repo and serving it to regulators.

Others

• LSEG (Refinitiv): Commercial financial data provider covering repo, money market, and fixed-income markets; comparable in dataset breadth and analytic tooling but serving private-sector subscribers rather than regulators.
• FINRA: Self-regulatory organization that aggregates broker-dealer trading and securities financing data; comparable in collecting transaction-level data on U.S. broker-dealers and serving as a regulatory data utility.

Broad incumbents

• Commodity Futures Trading Commission (CFTC): FSOC member agency publishing Commitments of Traders and Traders in Financial Futures data that OFR integrates into the Hedge Fund Monitor; an analogous regulator with shared market-data responsibilities.
• Federal Deposit Insurance Corporation (FDIC): FSOC member agency collecting bank balance-sheet and systemic-risk data; comparable in producing public monitoring tools (e.g., bank stress tests) and serving FSOC.
• Federal Reserve Board: U.S. central bank and FSOC member agency; jointly operates repo and short-term funding data initiatives with OFR and is a primary consumer of OFR's analytical outputs, making it the most direct peer in mandate and data coverage.
• Securities and Exchange Commission (SEC): FSOC member agency whose Form PF filings feed OFR's Hedge Fund Monitor; an overlapping systemic-risk data collector with comparable regulatory mandate and analytical publications.
• Office of the Comptroller of the Currency (OCC): FSOC member agency and Treasury sibling that supervises large national banks and contributes to systemic-risk monitoring; comparable in scope and user base to OFR.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xtwitter.com/ofrgov
• LinkedInlinkedin.com/company/office-of-financial-research

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Office of Financial Research