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.
Global spending on financial market data and news has continued its decade long growth-streak with revenues jumping 12.4% to a record $42.0 billion in 2023 and with Burton-Taylor International Consulting 2024 figures imminent, similar increases in spending are expected.
Although real-time trading and data spending accounted for the largest share of total revenues, strong demand for pricing, referencing and valuation data also drove spending.
Optimize Spend 2.0 offers extensive abilities to empower accurate inventory management for current and future periods, but crucially now also for historical periods.
Navigating this landscape can perilous for some financial services firms – not only due to the increasing complexity and value but also the potential for errors – and many find themselves confronted with a pressing question: How can we effectively optimize our market data costs and consumption?
The market data landscape is constantly evolving, with the volume, diversity and cost of market data growing and shifting year by year. This rapid expansion has introduced new challenges for financial firms of all sizes, leading them to reevaluate how they manage this crucial information from a commercial standpoint.
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