Ask market data professionals at any financial firm what keeps them awake at night and declaring their data usage to stock exchanges and other vendors is probably high on the list.
The task is time-consuming and growing in complexity. Getting it wrong can add to managers’ data costs and lead to unwelcome audits.
Together with Amjad Zoghbi, Director at Xpansion and Sami Kekäläinen, System Manager at Ilmarinen — TRG Screen held a Reference Data Usage Management webinar: 'How Ilmarinen benefits from enhanced reference data transparency, control & governance'.
Xmon offers state-of-the-art technology to track data requests and achieve significant cost-savings. Is this something you know your firm would benefit from but you don't have the internal IT resources to implement such technology? Don't Worry! Internal IT resources aren't needed. That's right... internal IT resources are NOT needed!
As a result of Covid-19 many businesses have maintained work from home office hours even as things return to a relative normal. Work from home has its advantages but one concerning factor at the top of every IT department’s mind is security. Managing user behaviors within enterprise subscriptions consistently across a firm is a challenging enough task as it is - especially when the number of users accessing those subscriptions is high. With so much remote working this challenge becomes even greater.
Post Covid-19, firms are now looking to shift their focus to more strategic goals. As a direct consequence of the pandemic, there are plans in place to review MiFID II to free up resources and encourage further investment. MiFID II had raised the profile of natural user netting by decreeing that every exchange must now offer some form of natural user netting program, where reasonably possible as of 2018.
There is a heavy price to pay for financial institutions that consume market data and other information sources but fail to comply with supplier contracts.
Getting to grips with data usage is a challenging task because there is so little existing infrastructure in place to track the use of information services, causing a real lack of transparency into actual data usage across a firm - leaving firms vulnerable. If you could easily understand access and usage, the benefits could be significant, don't you agree?
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