Financial firms depend upon market data – it’s one of the costs of doing business. But while reference data is complicated, it doesn’t have to be difficult to manage.
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Reference data is an expensive commodity – it accounts for 10 to 30 percent of a typical market data budget. Within multinational organizations, the figure can be even larger, with some companies allocating millions of dollars to it.
Financial firms depend upon market data – it’s one of the costs of doing business. But while reference data is complicated, it doesn’t have to be difficult to manage.
TRG Screen’s Quest request management system has enabled U.S.-based labor and employment law firm Jackson Lewis to streamline the transfer of knowledge and information across the business, increasing efficiency and enhancing its ROI.
Global spending on financial market data hit another new record in 2021 – an important milestone for exchanges and end-users alike.
While a new report (recently released by Burton-Taylor International Consulting) shows spending by data consumers rose 7.4% to $35.6 billion, for exchanges and other vendors this huge sum represents revenue that needs to be managed – similar to how end-users firms need to manage their spend.
It is no secret that the pandemic forced many firms out there to be critical of expenditure, and forced many businesses to evaluate how they were spending their money, and where it was possible to save costs in a downturned economy. This AmLaw 200 firm was no exception.
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