This is the 2nd edition of our industry newsletter with musings, observations and ideas regarding the challenges and opportunities facing market data management leaders.
Bangalore’s reputation as a global tech hub is well known. But its rise as a market data powerhouse? That story is still unfolding – one built on deep technology roots, world-class expertise, and the sheer scale of market data operations that are now anchored in the city.
If you think Bangalore’s appeal is just about cost think again. While traditional financial hubs compete in shrinking talent pools, Bangalore is scaling up – not by chance, but by design.
Why Bangalore? Why now?
Bangalore’s tech roots run deep. Since the 1990s, it’s been India’s Silicon Valley, attracting global financial firms looking to set up development and back-office operations. But as financial markets became more data-driven, Bangalore’s role shifted.
Firms didn’t just move operations here – they built centers of excellence. Bloomberg, Thomson Reuters, HSBC, JPMorgan, Goldman Sachs, and others saw the potential. They scaled their market data capabilities not just for the cost efficiencies, but for access to the rich pool of specialized talent formed in the area over time.
A steady stream of highly skilled graduates from the Indian Institute of Science, the Indian Institute of Management, and other top universities brought together finance, economics, computer science, and data analytics expertise – the critical mix needed to handle complex market data at scale.
And as Bangalore’s tech and finance scene grew, so did its influence on market data. Fintech startups and global firms continued investing in talent and technology, cementing the city as a thriving hub for market data innovation. In late 2025, TRG Screen set up a Managed Services operations center in Bangalore to tap into the city’s deep and wide talent pool. “When we began looking at options for expanding our capability to meet the growing needs of our Managed Services clients worldwide, it quickly became obvious to us that Bangalore was the right strategic choice to complement our operations in Europe, U.S., and Singapore,” explains Deepak Rajagopal, TRG Screen’s Global Head of Managed Services. “We’ve been able to stand up a 50-person team of experts in less than four months, and we don’t think we could have done that in any other city in the world.”
Built for what’s next
As an emerging center, Bangalore isn’t just catching up – it’s setting the pace. It has the perfect ingredients to become the world’s next market data powerhouse. As financial firms push deeper into AI, machine learning, predictive analytics, and blockchain – these technologies are already being applied at scale across the city.
But it’s not just about tech. With tightening regulations and tougher compliance, firms need stronger control over market data. Bangalore’s expertise in regulatory tech, governance, and risk management is also likely to drive demand for specialists in navigating global data laws.
And the talent pipeline? Bangalore is ahead of the curve. Demand for AI, blockchain and data science expertise is surging, and the city’s education and training programs are actively building a workforce ready for what’s next.
Additionally, Bangalore is not only a highly skilled market for all the reasons above. It’s also a very competitive market. As a result, employees/job candidates must constantly refresh their skills to stand out from their peers, which has naturally embedded a culture of self-improvement that benefits employers and their clients alike.
So, as the market data industry shifts gears, the real question isn’t whether Bangalore is ready. It’s whether everyone else can keep up.
Six things you can’t afford to ignore
Contract renewals are nothing new. You know the drill…
But even the best practitioners can get caught in a bind when it comes to renewals. Every seasoned market data professional has a horror story. The auto-renewal missed by a day. The contract cancellation window that came and went unnoticed. The business unit that wanted out, only to find itself locked in for another year at full price.
When the dollars involved run into the hundreds of thousands, these aren’t just small mistakes – they’re budget killers. In some cases we’ve seen over the years, even career killers. And in an industry where market data costs are scrutinized like never before, even the basics deserve a second look.
Here are six reminders worth keeping top of mind:
1. Early preparation = leverage
Leave it too late, and the balance of power naturally shifts to the supplier. Start reviewing contracts 60-90 days before key dates, longer for major deals. If you’re scrambling near the deadline, expect limited negotiation room and higher renewal costs.
2. Know when suppliers feel the pressure
Don’t forget vendors have sales targets, too. The best time to negotiate isn’t when they’re holding all the cards – it’s earlier in the renewal cycle. Be mindful of catching your account reps when they need to fill their pipeline with deals, and you might just find cost reductions or better terms on the table.
3. It’s not always about the price
If a supplier just won’t budge on cost, encourage your business to think creatively about other use cases, additional users, or expanded features instead that create value. On the flip side, if you’re paying for access you don’t need, scaling back rights can also serve as a point of negotiation.
4. Evergreen contracts = hidden costs
Evergreen (perpetual) contracts are the easiest to ignore, but the easiest to waste money on. Review them regularly. If you don’t need a service, cancel before the renewal window. If you’re unsure, usage tracking tools can build a picture to allow you to right-size.
5. Track contracts like your budget depends on it (because it does)
Managing market data contracts without an active renewal calendar is a disaster waiting to happen. Use contract management tools to flag key dates and track commitments. Nobody wants to tell their boss that they missed a six-figure cancellation deadline.
6. Don’t accept supplier usage data at face value
Supplier-generated usage reports can be vague, or worse, misleading. From the start, set clear expectations for what data you need and include it in your contract. If possible, collect independent usage data so you’re negotiating with facts, not just what a vendor tells you.
And one last thing…
We’ve seen near misses. We’ve seen costly mistakes. And we’ve seen firms locked into contracts they could have revised – if only they’d acted sooner. Don’t let contract renewals be an afterthought. The right process, tools and timing can mean the difference between a smart renewal and an expensive oversight.
According to Substantive Research Ltd and Expand Research - A BCG Company, renewal rates rose by an average of 15%, while budgets grew just 2% in 2024. At the same time, some firms are paying up to 12 times more than their peers for the same products.
Negotiating harder isn’t enough, and the need to optimize every dollar of spending has never been greater. As Claudia Preece of The TRADE News reports, firms need transparency, technology and C-suite backing to manage these escalating costs effectively.
Read more: https://www.thetradenews.com/market-data-prices-officially-reach-unsustainable-levels-new-research-finds/
Join the conversation! What’s on your mind? Did we get it right? Have a comment, or a topic you’d like to see us cover? We’d love to hear from you!
